CPKC Rail Strike Concludes as Government Mandates Binding Arbitration

Canadian Pacific Kansas City has announced that a months-long strike by roughly 300 unionized signal workers has ended.

 

A statement issued by CPKC said the rail company and the International Brotherhood of Electrical Workers have agreed to end the job action and enter into binding arbitration.

 

Read More On Our Daily Stock Market Reports – Markets Retreat as Oil Prices and Bond Yields Rise Following U.S. Threat of Total Economic War Against Iran

The contract between the rail carrier and its unionized workers expired last May.

 

 

Since then, the two sides have undergone a federally mandated conciliation and mediation process, but no deal was struck.

 

The IBEW says its members install, maintain, test and repair railway signalling and communications systems across the CPKC network from Vancouver to Montreal.

 

The new development means workers will be back on the job Monday morning.

 

 

 

 

 

This article was first reported by The Canadian Press

Companies in this story: (TSX: CP)