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Dow Jones Newswires: Canadian Pacific tells union it plans to lock out employees

Canadian Pacific Railway Ltd.
CP,
+3.22%

said it plans to lock out its employees at 12:01 a.m. ET on Sunday if the Teamsters Canada Rail Conference-Train & Engine union and the company cannot negotiate a settlement or agree to binding arbitration for a new labor agreement.

The company said it and TCRC union leaders have been meeting daily with federal mediators over the past week to reach a labor agreement but the positions of both sides “remain far apart.”

The TCRC rejected the company’s offer on Wednesday, CP said, prompting the railway to issue a 72-hour notice of its plan to lock out workers.

The talks center on wages, benefits, pensions and work rule demands. TCRC represents 3,000 locomotive engineers, conductors, train and yard workers across Canada.

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