CALGARY, May 30, 2018 /CNW/ – Canadian Pacific Railway Limited (TSX: CP) (NYSE: CP) is pleased to announce a tentative four-year agreement with CP conductors and locomotive engineers and a five-year agreement with our KVR conductors and locomotive engineers, ending both strikes.
Details of the agreement will be presented to the TCRC membership for ratification. Approximately 3,000 locomotive engineers and conductors are represented by the TCRC.
“This is a positive result for our TCRC employees and their families, the 12,000-strong CP family, our customers and the entire Canadian economy,” said Keith Creel, CP President and CEO. “It is especially meaningful to achieve a four-year tentative agreement with our valued locomotive engineers and conductors, providing long-term stability for all parties involved. This is a significant step toward a renewed positive relationship growing forward together serving our customers and the Canadian economy.”
“We have had the discussion that needed to take place. This is a solid step in re-establishing a positive business relationship and moving forward,” said Doug Finnson, President TCRC.
Both parties wish to acknowledge the efforts of the Federal Mediation and Conciliation Services throughout this process.
No further details will be released at this time.