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CP Rail and Teamsters union agree on final arbitration, workers return to jobs – Global News

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Canadian Pacific Railway Ltd. rail employees are back on the job, but one labour relations expert says it could take weeks before matters are settled between the country’s second-largest railway and the union representing 3,000 conductors, engineers, train and yard workers.

CP Rail and Teamsters Canada Rail Conference announced early Tuesday that they have agreed to final and binding arbitration to end a work stoppage that began on the weekend.

“Given the high profile of this company, the arbitration process will probably be fast-tracked, but we’re not talking days, we’re talking weeks,” said Robert Hickey, a labour and employment professor at Queen’s University, in an interview.

He also said CP Rail is well aware of the importance and need to manage labour relations and bring the dispute to a quick settlement, as it waits for approval from a U.S. regulator on its merger with U.S. railway Kansas City Southern.

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Canada’s reputation could suffer lasting damage from CP Rail dispute: business leader 

“Labour relations is a key component of being a competitive player in this marketplace,” he said.

In a statement early Tuesday morning, Teamsters Canada Rail Conference spokesperson Dave Fulton said while binding arbitration was not the preferred method, the union was able to negotiate terms and conditions that were in the best interest of its members, with wages and pensions still stumbling blocks.

CP chief executive Keith Creel said in a statement that the railway was pleased to have reached the agreement to enter into binding arbitration, enabling it “to resume our essential services for our customers and the North American supply chain.”


Click to play video: 'Canada’s labour minister says operations at CP Rail has resumed, will continue during arbitration period'



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Canada’s labour minister says operations at CP Rail has resumed, will continue during arbitration period


Canada’s labour minister says operations at CP Rail has resumed, will continue during arbitration period

The statement added CP will begin working with customers to resume normal train operations across Canada as soon as possible.

The two sides had been meeting with the help of federal mediators.

Hickey doesn’t think the Teamsters will get everything they want, nor will CP Rail, noting that oftentimes with arbitration, both parties are left unsatisfied. However, he doesn’t believe that this necessarily guarantees more strike action down the line.

Read more:

Labour minister facing economic, political pressure as CP Rail strike continues

“I don’t think this will create a secure path of continued conflict,” he said. “These two have an ongoing relationship that certainly has its share of disputes during contract renewal bargaining, but they also know how to reach settlements and get back to work.”

CP Rail shut down operations on Sunday just after midnight. A few hours later, Teamsters issued a statement saying the employees were locked out but were also on strike.

Industry groups had been pressing Ottawa to introduce back-to-work legislation to end the work stoppage.


Click to play video: 'Pressure grows on Ottawa to end CP Rail work stoppage'



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Pressure grows on Ottawa to end CP Rail work stoppage


Pressure grows on Ottawa to end CP Rail work stoppage

Federal Labour Minister Seamus O’Regan said in a statement that the outcome “is further evidence that when employers and unions work together, we get the best results for Canadians and our economy.”

“This is what I was hoping for,” he added in an interview from Calgary. “The important thing is the trains are running today.”

O’Regan also said that when the dust from this recent negotiation and strike settles, it may be time for the government to look at finding a way to bring more certainty to future contract talks. There have been multiple rail strikes in the last decade at both CP Rail and Canadian National Railway Co.

But O’Regan said he’s not bullish on the idea of making rail an essential service because that takes away the rights of workers to bargain.

With files from Mia Rabson.

© 2022 The Canadian Press

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Netflix’s subscriber growth slows as gains from password-sharing crackdown subside

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Netflix on Thursday reported that its subscriber growth slowed dramatically during the summer, a sign the huge gains from the video-streaming service’s crackdown on freeloading viewers is tapering off.

The 5.1 million subscribers that Netflix added during the July-September period represented a 42% decline from the total gained during the same time last year. Even so, the company’s revenue and profit rose at a faster pace than analysts had projected, according to FactSet Research.

Netflix ended September with 282.7 million worldwide subscribers — far more than any other streaming service.

The Los Gatos, California, company earned $2.36 billion, or $5.40 per share, a 41% increase from the same time last year. Revenue climbed 15% from a year ago to $9.82 billion. Netflix management predicted the company’s revenue will rise at the same 15% year-over-year pace during the October-December period, slightly than better than analysts have been expecting.

The strong financial performance in the past quarter coupled with the upbeat forecast eclipsed any worries about slowing subscriber growth. Netflix’s stock price surged nearly 4% in extended trading after the numbers came out, building upon a more than 40% increase in the company’s shares so far this year.

The past quarter’s subscriber gains were the lowest posted in any three-month period since the beginning of last year. That drop-off indicates Netflix is shifting to a new phase after reaping the benefits from a ban on the once-rampant practice of sharing account passwords that enabled an estimated 100 million people watch its popular service without paying for it.

The crackdown, triggered by a rare loss of subscribers coming out of the pandemic in 2022, helped Netflix add 57 million subscribers from June 2022 through this June — an average of more than 7 million per quarter, while many of its industry rivals have been struggling as households curbed their discretionary spending.

Netflix’s gains also were propelled by a low-priced version of its service that included commercials for the first time in its history. The company still is only getting a small fraction of its revenue from the 2-year-old advertising push, but Netflix is intensifying its focus on that segment of its business to help boost its profits.

In a letter to shareholder, Netflix reiterated previous cautionary notes about its expansion into advertising, though the low-priced option including commercials has become its fastest growing segment.

“We have much more work to do improving our offering for advertisers, which will be a priority over the next few years,” Netflix management wrote in the letter.

As part of its evolution, Netflix has been increasingly supplementing its lineup of scripted TV series and movies with live programming, such as a Labor Day spectacle featuring renowned glutton Joey Chestnut setting a world record for gorging on hot dogs in a showdown with his longtime nemesis Takeru Kobayashi.

Netflix will be trying to attract more viewer during the current quarter with a Nov. 15 fight pitting former heavyweight champion Mike Tyson against Jake Paul, a YouTube sensation turned boxer, and two National Football League games on Christmas Day.

The Canadian Press. All rights reserved.

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