(MENAFN- ProactiveInvestors) () the country's largest railroad and the union representing 4800 of its mechanical clerical and trucking staff resumed contract talks today just hours before a deadline set by Montreal-based railway to lock out the workers. Shares retreated.
The Unifor labour union said talks would resume at around 1 p.m. EST but the two sides have said they are far apart on wages and working conditions.
The impasse raises the prospect of a second work disruption in little more than a week on the country’s major railroads. Ltd. and the Teamsters agreed to mediated arbitration on Feb. 16 about a day after unionized engineers conductors and other employees walked off the job.
In a strike or lockout train crews would stay on the job. But Unifor represents the staff that do maintenance work and safety inspections so service could be affected quickly. A stoppage by CN truck drivers who haul some goods from West Coast ports to rail lines would affect imports from Asia.
CN has said it has a contingency plan for a lockout and that trained management will fill in for Unifor members so it can maintain service as much as possible.
A legal resolution “may be the best way to prevent a labour dispute” with Unifor members Canadian National chief executive officer Claude Mongeau said in a statement yesterday.
Shares slid 1.3 percent to $86.57 at 3:15 p.m. in Toronto paring gains this year to 8.3 percent.
The railway said on February 20 that it intends to lock out the 4800 mechanical intermodal and clerical workers represented by Unifor at 11 p.m. today unless the union agrees to binding arbitration to settle contract differences.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.