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United Steelworkers (USW) local 1976 and Canadian Pacific ratify five-year agreement
CALGARY, Nov. 9, 2012, 2012 (Canada NewsWire via COMTEX) --
Canadian Pacific (TSX:CP)(NYSE:CP) and the
United Steel Workers (USW), Local 1976, representing approximately 800
clerical and intermodal workers, today announced that a five-year
contract has been ratified with 87% of the membership voting in favour
of the contract terms.
The new collective agreement begins in January 2013 and allows for wage
increases of 3% in each of the next five years. It also reflects
changes that help ensure the CP pension plan is sustainable for
employees, current retirees, and CP.
"The members voted overwhelmingly in favour of the contract, especially
given it provides good wage and benefit improvements," said Steven
Hadden, President of USW local 1976.
"CP is pleased with this positive outcome as it includes provisions for
productivity and efficiency enhancements," said Peter Edwards, CP Vice
President of Human Resources and Industrial Relations.
The current contract was due to expire December 31, 2012.
About Canadian Pacific
Canadian Pacific (TSX:CP)(NYSE: CP) operates a North American
transcontinental railway providing freight transportation services,
logistics solutions and supply chain expertise. Incorporating
best-in-class technology and environmental practices, CP is re-defining
itself as a modern 21st century transportation company built on safety,
service reliability and operational efficiency. Visit www.cpr.ca to learn more.
SOURCE: Canadian Pacific
To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/November2012/09/c6568.html
SOURCE: Canadian Pacific
Contacts: CP Media Ed Greenberg Tel: 612-849-4717 24/7 Media Pager: 855-242-3674
Ed_greenberg@cpr.ca CP Investment Community Janet Weiss Tel: 403-319-3591
investor@cpr.ca United Steelworkers Nathalie Lapointe Staff Representative Tel:
(514) 526-8280 nlapointe@metallos.ca
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