Railway strike ends as CN Rail, union agree to binding arbitration (NYSE:CNI)

Railway strike ends as CN Rail, union agree to binding arbitration (NYSE:CNI)

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Canadian National Railway (NYSE:CNI) and the International Brotherhood of Electrical Workers, the union representing 750 signal and communication workers, said Monday they agreed to enter binding arbitration, ending a two-week strike.

CN Rail said the workers, who went on strike in a dispute focused primarily on wages and benefits, will return to work on Wednesday.

The union initially rejected the company’s offer that included a 10% wage hike over three years and better schedules ensuring consecutive days off.

An eight-day railway strike in 2019 disrupted shipments of some commodities, including grain and propane, but rail operations continued uninterrupted during this latest strike.

Canadian National Railway (CNI) is “a conservative dividend growth gem” for investors, Leo Nelissen writes in a bullish analysis published recently on Seeking Alpha.

Originally Posted on: https://seekingalpha.com/news/3853970-railway-strike-ends-as-cn-rail-union-agree-to-binding-arbitration?source=feed_tag_commodities
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