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CN Railway, union agree to start arbitration; strike averted

  • Canadian National Railway (NYSE:CNI) and the Teamsters Canada Rail Conference (TCRC-CTY), which represents 3,000 CN conductors, yard workers and traffic coordinators, have agreed to start an arbitration process over a contract dispute.
  • The process ensures that the disagreement won't lead to a strike, which is particularly important for CN as it needs to comply with a government order to clear a major bottleneck by transporting 5,500 grain cars a week.
  • CN expects the process to take until mid-June to be completed.

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