The Class I received the award of a federally appointed arbitrator that includes a cap change on pension growth and a new pension accrual rate for future hires. The agreement is retroactive to January 2012.
CP also announced a five-year agreement reached with the International Brotherhood of Electrical Workers last month has been ratified. The contract takes effect Jan. 1, 2013.
"I am pleased we were able to reach another agreement with a key union," said CP President and Chief Executive Officer E. Hunter Harrison in a prepared statement. "With our labor situation settled, CP is in very good position to continue the work of being an even more reliable and efficient railway for our customers."
Keywords
Browse articles on Canadian Pacific on Progressive Railroading
More articles
- Amtrak service to Norfolk will provide a much-needed option for Northeast Corridor travelers, Virginia rail department says
- Class I railroads' outlook for 2013 is a smidgen on the optimistic side
- MAP-21 gives transit execs some certainty in 2013
- Rail outlook 2013; reading the rail-car order barometer (Pat Foran, Context, December 2012)
- For Norfolk Southern, a new intermodal initiative is paying off in shorter trains and efficiency gains
- Amtrak reorganization outlined during House Transportation and Infrastructure Committee hearing
- Tracy DeLeon, League of Railway Industry Women's 2012 'woman of the year,' talks career success
- Positive train control a tall order for short line railroads
- U.S. locomotive order activity has slowed, but demand for GenSets is up for some motive power manufacturers
- Rail-car deliveries to drop to 47,000 in 2013 — by Toby Kolstad
- Track inspection equipment and services update
- Domestic container volume up in 3Q, IANA says; plus, freight rail traffic data
- Railroad Contractor Case Studies (advertorial)
