CN Concludes Lockout and Launches Recovery Strategy
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CN Concludes Lockout and Launches Recovery Strategy
CN (TSX: CNR) (NYSE: CNI) has announced the end of its lockout effective immediately with the initiation of a recovery plan. This decision marks a pivotal moment for the company as it works towards restoring normal operations and meeting the needs of its customers.
Expediting Economic Recovery
As CN awaits a formal order from the Canada Industrial Relations Board (CIRB), it is taking proactive steps to expedite the recovery of economic activities that were affected during the lockout period. The company recognizes the importance of resuming operations and aims to contribute positively to the economy.
The Importance of Collaborative Negotiation
While CN is pleased to see the resolution of this labor conflict, it also expresses disappointment that an agreement couldn't be reached through negotiations. The company's efforts to find a mutually acceptable solution at the bargaining table were extensive, but ultimately, they could not achieve a negotiated deal.
CN's Operational Overview
Founded in 1919, CN plays a critical role in the North American economy by providing safe and efficient transportation of over 300 million tons of natural resources, manufactured products, and finished goods each year. With a nearly 20,000-mile rail network, CN connects the Eastern and Western coasts of Canada, as well as links to the U.S. Midwest and the Gulf of Mexico. This extensive network facilitates sustainable trade and enhances the prosperity of the communities in which CN operates.
Commitment to Safety and Efficiency
CN's commitment to safety and efficiency is paramount in its operations. The company continuously invests in its infrastructure and technology to ensure reliable service. This dedication not only helps meet customer demands but also supports the broader economic landscape by fostering efficient transport solutions.
Communication with Stakeholders
Maintaining clear communication with stakeholders is a key component of CN’s operational strategy following the lockout. The company has designated contacts for media and the investment community to address inquiries and keep all parties informed about developments.
Contact Information
For media inquiries, Jonathan Abecassis, Director of Public Affairs and Media Relations, is available at (438) 455-3692 or via email at media@cn.ca.
Investors can reach Stacy Alderson, Assistant Vice-President of Investor Relations, at (514) 399-0052 or send an email to investor.relations@cn.ca.
Frequently Asked Questions
What led to the end of the lockout at CN?
CN ended its lockout to expedite the recovery of economic activities impacted during the period. The company aims to restore normal operations as swiftly as possible.
How does CN contribute to the economy?
CN is a vital link in the North American economy, transporting millions of tons of goods and resources, connecting various regions and facilitating trade.
What communication strategies does CN use post-lockout?
CN has established designated contacts for media and investors to provide clear communication and keep all stakeholders informed about the ongoing developments.
What are CN's core values in operations?
Safety, efficiency, and reliability are core values for CN as it seeks to deliver exceptional service while maintaining operational standards.
How long has CN been operational?
CN has been in operation since 1919, playing a crucial role in the transportation industry in North America for over a century.
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