OREANDA-NEWS. CN (TSX: CNR) (NYSE: CNI) announced today that it has received-and will begin to implement immediately-Arbitrator Michel Picher's decision setting the terms and conditions of a new three-year collective agreement between CN and the Teamsters Canada Rail Conference - Conductors, Trainpersons and Yardpersons (TCRC-CTY). The arbitration ruling is binding on both parties and concludes the voluntary mediation/arbitration process that the company and union agreed to on March 22, 2014.

The TCRC-CTY represents approximately 3,000 CN train conductors, trainpersons, yardpersons and traffic coordinators on CN's network in Canada.

Work rule changes are effective immediately. The decision provides for general wages increases as follows: three per cent retroactive to July 23, 2013; three per cent effective July 23, 2014, and three per cent effective July 23, 2015, which are in line with general wage and benefits provisions in recent settlements between CN and its other unions. Benefit improvements will take effect on July 1, 2014.

Jim Vena, CN executive vice-president and chief operating officer, said: “CN is pleased that the arbitration process is finished and that the parties have contractual certainty-this is good news for our customers and the Canadian economy.

“The award paves the way for the introduction of scheduling for conductors in Western Canada, an approach we believe will help to address manpower availability and promote greater work-life balance.”