Canada Pacific Railway lockout! – Fertilizer & grains will hit the roof
The CP employer announced a lockout starting 20 March (they need 72hr notice). This means that from 20 March onwards no employee will be allowed to return for work.
For those who have been sleeping all this time, the union recently voted 97% in favor to strike because they can’t get any deal on wages & pensions. The CP employer has refused all their demands and despite weeks of negotiations they’ve gone nowhere. The union was about to announce a strike today (needs 72hr notice as well) but the employer got there first announcing a lock out.
What is the difference? A lockout allows more flex to the employer as they don’t have allow employees to return to work – ever – unless a new contract is signed.
The impact of this cannot be overestimated. CP is responsible for bringing virtually all the fertilizer, grain and whatnot from Canada to USA, both for USA consumption and to be exported abroad. USA has no reserves of whatever the railway brings. Last time they went on strike a few years ago for 8 days, the supply chain took several weeks to recover, and that was pre-covid.
Positions: MOS shares, MOS calls $70 a month out, WEAT
Submitted March 17, 2022 at 03:50AM by ImFedUpWithItAll
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