CN And Unifor Affiliated CNTL Drivers Reach Tentative Agreement
Portfolio Pulse from Benzinga Newsdesk
CN, listed as CNI on the NYSE, has reached a tentative four-year agreement with Unifor-affiliated owner-operators contracted with its subsidiary CNTL. The agreement, affecting around 750 owner-operators in Canada, will be in effect until December 31, 2027.
January 17, 2024 | 12:33 pm
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CN has reached a tentative labor agreement with Unifor-affiliated owner-operators at its subsidiary CNTL, which is likely to stabilize operations and potentially improve investor confidence.
The tentative agreement with Unifor is likely to have a positive short-term impact on CN's stock (CNI) as it ensures stability in its operations and reduces the risk of labor disputes. Stable labor relations are crucial for the smooth functioning of the company's logistics and transportation services, which can lead to improved efficiency and potentially better financial performance. This can increase investor confidence and positively influence the stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80