CN Reaches New Tentative Collective Agreement with United Steelworkers
CN (TSX: CNR) (NYSE: CNI) has recently announced the successful negotiation of a new tentative three-year collective agreement with the United Steelworkers (USW) Local 2004. This agreement covers approximately 2,500 track and bridge employees at CN who are primarily responsible for track maintenance across Canada.
The negotiations between CN and USW have concluded on a positive note, marking an important step towards ensuring a harmonious working relationship between the company and its employees. The agreement, once finalized, will provide stability and security for the track and bridge employees, setting the groundwork for efficient and effective track maintenance operations across the country.
The negotiation process reflects CN’s commitment to fostering positive labor relations and valuing the contributions of its employees. With this new agreement, CN aims to maintain a high level of service and safety in its rail operations, ensuring the efficient transportation of goods across Canada.
In other news, Canadian National Railway Co has reported a slight decrease in revenue for the fourth quarter of 2018 compared to the previous year. While the company experienced a decline of 0%, its competitors faced a more significant decrease of -14.85% in the same quarter. It is worth noting that Canadian National Railway Co’s net loss aligns with that of most of its competitors during this period.
Additionally, Canadian National Railway Co’s market share has seen a slight decrease from 8.75% in the third quarter of 2018 to 8.64% in the fourth quarter of the same year. However, over the past 12 months, the company has maintained a market share of 10.57%.Overall, the tentative collective agreement reached between CN and USW is a significant development for the company and its track and bridge employees. It underscores CN’s commitment to fostering positive labor relations and ensuring the efficient and safe transportation of goods across Canada.
Comments