Canadian National Reaches Tentative Labor Deal With Union
(The following story by Joan E. Solsman appeared on The Wall Street Journal website on October 4, 2010.)
Canadian National Railway Co. (CNI) said it reached a tentative labor deal with the union representing its train conductors, yardmen and traffic coordinators.
Earlier this week, a spokesman for the Teamster Canada Rail Conference said Canadian National had offered some room for compromise on crew scheduling, which was a key sticking point.
The tentative settlement with the union, which represents about 2,700 workers at Canadian National, eases the likelihood of a strike or lockout.
Canadian National shares in New York werent active after the announcement in after-hours trading. The stock closed at $64.14, up 0.2%, and has risen 18% so far this year.
