It’s down to nail biting and knee-knocking time for both sides in the Canadian National Railways (TSX: CNR) dispute with its union, with Teamsters, speaking for more than 3,000 Canadian National Railway conductors, says they may go on strike as early as 4 a.m. ET Tuesday morning.
Last week, the Teamsters union announced its members had voted 98% in favour of a strike mandate.
As contract negotiations continued through the weekend, the union said Saturday the company chose to "force unilateral changes" to the work environment by removing a clause that requires CN to consult with the union before making "material changes" to the work environment, such as terminal closures and mandatory relocations.
The changes would also include a 2% wage hike as of Friday. The collective agreement between the rail company and its main union expired in 2016.
The company says it continues to work with a federally appointed mediator and is willing to agree to binding arbitration to settle unresolved issues.
The Freight Management Association of Canada, which represents agriculture, mining, forest products and other sectors, wrote to federal Labour Minister Patty Hajdu on Sunday asking her to impose binding arbitration to resolve the dispute.
The association’s president said a strike would result in missed sales by exporters and commodity shipments arriving late to port, racking up higher costs. Retailers who import goods would also be affected, along with auto manufacturers who rely on just in time parts delivery.
Shares in the carrier slid 22 cents mid-afternoon Monday to $103.48.
