CN and Unifor reached a tentative four-year agreement for 3,300 employees, pending ratification before details are disclosed.
Quiver AI Summary
CN announced the achievement of a tentative four-year collective agreement with Unifor, which represents about 3,300 employees in Canada involved in various roles. Specific details of the agreement will remain confidential until it is ratified, and the current agreement is set to expire on December 31, 2024. CN, a major player in North American transportation, operates an extensive rail network and plays a vital role in the economy by moving over 300 million tons of goods annually.
Potential Positives
- CN has reached a tentative four-year collective agreement with Unifor, ensuring labor stability for approximately 3,300 employees and enabling continued operations without disruption.
- The new agreement demonstrates CN's commitment to maintaining strong labor relations and investing in its workforce, which is vital for long-term operational success.
- By securing this agreement before the current contract expiration, CN minimizes the risk of potential labor disputes, which can impact service and operational efficiency.
- This proactive approach reinforces CN's reputation as a responsible employer and strengthens its strategic position within the transportation sector in North America.
Potential Negatives
- The lack of specific details regarding the tentative agreement may lead to uncertainty and concern among employees and stakeholders about the terms negotiated, potentially affecting morale and productivity.
- The expiry of the current collective agreement on December 31, 2024, creates a time-sensitive situation that may complicate operations if the new agreement is not ratified promptly.
FAQ
What is the duration of the new CN-Unifor agreement?
The new tentative agreement with Unifor is for a duration of four years.
How many employees are represented by Unifor at CN?
Unifor represents approximately 3,300 employees working in various roles at CN.
When does the current CN-Unifor agreement expire?
The current collective agreement with Unifor expires on December 31, 2024.
What type of work do Unifor members perform at CN?
The employees represented by Unifor perform mechanical, clerical, and intermodal functions at CN.
When will the details of the new agreement be released?
Details of the tentative agreement will be released once it is ratified.
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.
$CNI Hedge Fund Activity
We have seen 344 institutional investors add shares of $CNI stock to their portfolio, and 417 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- FIL LTD removed 10,005,323 shares (-70.1%) from their portfolio in Q3 2024
- TCI FUND MANAGEMENT LTD removed 4,051,108 shares (-10.3%) from their portfolio in Q3 2024
- NATIONAL BANK OF CANADA /FI/ added 2,146,948 shares (+46.8%) to their portfolio in Q3 2024
- ARTISAN PARTNERS LIMITED PARTNERSHIP removed 1,814,500 shares (-100.0%) from their portfolio in Q2 2024
- CAPITAL INTERNATIONAL INVESTORS added 1,790,535 shares (+20.6%) to their portfolio in Q3 2024
- ARROWSTREET CAPITAL, LIMITED PARTNERSHIP added 1,628,703 shares (+78.2%) to their portfolio in Q3 2024
- MORGAN STANLEY removed 1,614,488 shares (-28.4%) from their portfolio in Q3 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
MONTREAL, Dec. 09, 2024 (GLOBE NEWSWIRE) -- CN (TSX: CNR) (NYSE: CNI) announced today that a new tentative four-year collective agreement has been reached with Unifor. The union represents approximately 3,300 employees at CN in Canada, working in different mechanical, clerical, and intermodal functions.
No details of the tentative agreement will be released publicly until the agreement is ratified. The current collective agreement with Unifor expires on December 31, 2024.
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.
Contacts:
| Media | Investment Community |
| Jonathan Abecassis | Stacy Alderson |
| Director | Assistant Vice-President |
| Public Affairs and Media Relations | Investor Relations |
| (438) 455-3692 |
(514) 399-0052
|
| [email protected] |
[email protected]
|
