CN Announces Ratification of Four-Year Collective Agreement with IBEW for Signals and Communications Employees

CN's four-year collective agreement with IBEW ratified, offering annual 3% wage increases for 750 employees.

Quiver AI Summary

CN announced the ratification of a new four-year collective agreement with the International Brotherhood of Electric Workers (IBEW), representing about 750 Signals and Communications employees in Canada. The agreement, ratified on February 14, 2025, includes annual wage increases of 3% and will last until December 31, 2028. Patrick Whitehead, CN's Executive Vice-President and Chief Network Operating Officer, emphasized that the agreement is beneficial for both the employees and the company, enabling CN to maintain safe and efficient service. CN plays a significant role in transporting goods across North America, supporting sustainable trade and local communities.

Potential Positives

• The ratification of the tentative collective agreement with the IBEW union signifies a stable labor relationship, which can enhance operational efficiency and employee morale.
• The agreement includes annual wage increases of 3%, which may help attract and retain skilled employees in the long term.
• This new agreement sets a clear framework for the next four years, allowing CN to plan effectively for its workforce and operational needs.
• The positive statement from CN's Executive Vice-President highlights the company's commitment to safe and reliable service, reinforcing its dedication to customer satisfaction and community support.

Potential Negatives

• The announcement of a new collective agreement may indicate labor negotiations were contentious, potentially leading to future instability within the workforce.
• While the wage increases are positive, the guaranteed 3% raises each year may significantly raise operational costs over the four-year term, impacting profitability.
• The expiration of the agreement on December 31, 2028, means that CN will need to prepare for future negotiations which could present challenges given the current economic climate.

FAQ

What is the new collective agreement with IBEW about?

CN's new tentative collective agreement with IBEW involves a four-year contract for approximately 750 Signals and Communications employees.

When was the collective agreement ratified?

The collective agreement was formally ratified by employees on February 14, 2025.

What are the wage increases included in the agreement?

The new agreement includes annual wage increases of 3% for the duration of the contract.

How long will the agreement be in effect?

The collective agreement will remain in effect until December 31, 2028.

What role does CN play in the economy?

CN transports over 300 million tons of goods, connecting various regions in North America to enhance trade and community prosperity.

Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.

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Full Release

MONTREAL, Feb. 17, 2025 (GLOBE NEWSWIRE) -- CN (TSX: CNR) (NYSE: CNI) announced today that its new four-year tentative collective agreement with the International Brotherhood of Electric Workers (IBEW) was formally ratified by employees on Friday, February 14, 2025. The union represents approximately 750 Signals and Communications employees at CN in Canada.

“The ratification of this agreement by our employees with the IBEW union represents a mutually beneficial outcome. This is what we strive for in the collective bargaining process, allowing us to continue delivering safe, efficient, and reliable service to our customers and the communities where we operate."

- Patrick Whitehead, Executive Vice-President and Chief Network Operating Officer, CN

This new four-year agreement includes 3% wage increases annually. It expires on December 31

^st

, 2028.

About CN



CN powers the economy by safely transporting more than 300 million tons of natural resources, manufactured products, and finished goods throughout North America every year for its customers. With its nearly 20,000-mile rail network and related transportation services, CN connects Canada’s Eastern and Western coasts with the U.S. Midwest and the Gulf of Mexico, contributing to sustainable trade and the prosperity of the communities in which it operates since 1919.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.