Calgary Alberta - The Teamsters Canada Rail Conference (TCRC) and Canadian Pacific Railway (CP) have agreed on a one-year renewal of the existing collective agreement.
The agreement, which is subject to ratification, offers CP's Canadian conductors and engineers a number of benefits and certainty over the next year, while protecting customers' and future customers' interests.
"I commend the TCRC leadership for their hard work on this and look forward to working with them over the next year to build the framework for a longer-term agreement based on trust and the best interests of our employees and all stake holders," said Keith Creel, CP President and Chief Executive Officer.
"The renewal of the collective agreement for a one-year period is the best possible news for our hard working engineers and conductors, their families, our customers and shareholders, and the 9,000 other employees in our CP family."
Earlier this summer, CP proposed to TCRC leadership a one-year renewal of the current agreement, which was set to expire 31 Dec 2017.
"We continue to work productively with all of our union partners to achieve long-term, innovative, and sustainable agreements that balance the needs of CP's business with the needs of our employees," Creel said.
2017 has been a successful year for concluding new labour agreements.
In April, CP and the United Steel Workers reached a new five-year agreement.
Soo Line Railroad and Smart TD, which represents conductors and trainmen, implemented an hourly agreement in the same month.
In May, the Soo Line Railroad and American Train Dispatchers Association implemented a new six-year agreement.
In July, CP and the TCRC Maintenance of Way Employees Division announced a five-year collective bargaining agreement.
Also in July, CP came to a six-year agreement with the International Association of Machinists and Aerospace Workers.
The company agreed on a six-year deal with the Transportation Communication Union, Soo Line, in August.
TCRC represents approximately 3,000 Canadian conductors and engineers at CP.