Wage gains contingent on revenue gains in final years of deal
Canadian Pacific (CP) and the Teamsters Canada Rail Conference Maintenance of Way Employees Division (TCRC-MWED) ratified a new five-year agreement July 21.
"This agreement reflects the continuing trend of early, long-term contracts with our unions that ensure stability for our hardworking employees and consistency of service for our customers," said Keith Creel, CP president and CEO."
The agreement received 85 per cent support and is effective Jan. 1, 2018. The agreement ensures wage increases of two per cent each year over the term of the contract and provides the opportunity for additional increases of one per cent in the fourth and fifth years depending on gains in revenue ton miles, said the company.
TCRC-MWED represents about 2,000 workers at CP.
