CALGARY — Canadian Pacific has reached a new two-year agreement with Teamsters Canada Rail Conference-Train and Engine employees through binding arbitration, the railroad announced.
The union represents about 3,000 engineers, conductors, train and yard workers in Canada.
The agreement, which runs through 2023, includes 3.5% wage increases in 2022 and 2023, as well as increased benefits. The TCRC will also join a CP Pension Improvement Account.
“CP welcomes the conclusion of arbitration and is pleased to have completed this agreement with the TCRC Negotiating Committee,” CP CEO Keith Creel said in a statement. “We continue to work with our union partners to reach agreements that meet the needs of our industry-leading railroaders and allow us to grow our business as we provide essential services for our customers and the North American supply chain.”
The parties agreed to binding arbitration in March 2022 to resolve outstanding elements of a new collective bargaining agreement.
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