Canadian Pacific, TCRC-T&E arbitration ends with new two-year pact

Canadian Pacific yesterday announced a new two-year collective agreement with the Teamsters Canada Rail Conference-Train and Engine following binding arbitration.

The new agreement includes a 3.5% wage increase in 2022 and 2023 and increased benefits. Under the arbitration decision, the TCRC will also join a CP Pension Improvement Account, CP officials said in a press release.

The new collective agreement runs through 2023.

TCRC represents 3,000 locomotive engineers, conductors, and train and yard workers across Canada.

CP and TCRC agreed to enter binding arbitration in March to resolve outstanding matters as part of a new collective agreement, including wages and pensions.

"CP welcomes the conclusion of arbitration and is pleased to have completed this agreement with the TCRC Negotiating Committee," said CP President and CEO Keith Creel. "We continue to work with our union partners to reach agreements that meet the needs of our industry-leading railroaders and allow us to grow our business as we provide essential services for our customers and the North American supply chain."