Unifor Ratifies New Agreement with CN Railway

(Reuters) – Unifor announced on Sunday that its members at Canadian National Railway (TSX:CNR) have ratified a new four-year collective agreement, successfully averting potential strike action.

Unifor, representing over 3,000 members from the railroad's Council 4000 and Local 100 committees, stated that this agreement includes enhanced wages, benefits, and job protections for those employed at CN terminals and headquarters across Canada.

Earlier this month, the railroad reached a tentative four-year collective agreement with the union. Unifor National President Lana Payne highlighted the agreement as securing vital gains that acknowledge the significant contributions of its members to CN's operations.

CN did not provide an immediate comment to Reuters regarding the matter.

The ratification follows Unifor's authorization for strike action last month if an agreement was not reached by January 1. The union began negotiations with CN Rail in September, prioritizing higher wages, pension plan improvements, and job security for its members.

As the world's second-largest country by area, Canada significantly relies on trains for transporting a variety of commodities and goods.