Canadian Pacific Has Been Preparing For Teamster Strike ‘For Two Years,’ Says Company

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Canadian Pacific

In Canada, the Teamsters have threatened to pull more than 3,000 locomotive engineers and conductors out on strike against Canadian Pacific Railway if there is not new agreement by 12:01 am Sunday.

According to the company’s Chief Operating Officer, however, the company has been preparing for a strike for the last two years.

via Reuters:

Canadian Pacific Railway Ltd said on Wednesday its managers will be ready to take over if engineers and conductors in Canada walk off the job on Sunday, as talks to try to avert a strike at the country’s No. 2 railway continued.

Chief Operating Officer Keith Creel told an investor conference CP has been preparing for a strike for two years. He said that if one goes ahead it would reduce earnings per share by about one cent per day.

….

“We won’t be able to move 100 percent of the business, but certainly we’re going to protect the business as best we can,” he said. [Emphasis added.]

As the saying goes: Hope for the best, prepare for the worst.

Image credit.

2 COMMENTS

  1. Notice how the comments from the COO were focused on letting the investors know how overall earnings might be effected, rather than a generic statement about hoping to work with the union to come to an amenable agreement, etc.

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