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CN (TSX:CNR) implements contingency plan as IBEW announces strike

Market News, Transport
TSX:CNR
20 June 2022 09:15 (EDT)

Source: Kansas City Southern

CN (CNR) has implemented its operational contingency plan to ensure that normal rail operations continue across Canada as the IBEW announces strike action.

The contingency plan allows CN to maintain a normal level of safe rail operations across Canada and serve its customers for as long as required.

Following the rejection of CN’s latest offer, the International Brotherhood of Electrical Workers (IBEW), which represents about 750 Canadian National Railway Co. employees, confirmed that signal and communication workers have walked off the job across the country.

CN remains committed to finding a resolution and it continues to encourage the IBEW to end its strike through an agreement or binding arbitration.

CN is a world-class transportation leader and trade-enabler. CN safely transports more than 300 million tons of natural resources, manufactured products, and finished goods throughout North America every year.

Canadian National Railway Company (CNR) opened trading at C$140.89.

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