CN Rail Workers Strike After Contract Talks Breakdown

Canadian National Railway (CNR) workers have officially gone on strike after contract talks
aimed at reaching a new collective agreement broke down over the weekend.

The strike of 750 signal and communication workers began on Saturday (June 18) after
negotiations over pay and benefits failed, according to a statement by the International
Brotherhood of Electrical Workers, which represents the disgruntled workers.

The union issued a 72-hour strike notice to CN Rail on June 15.

The strike could worsen logistics and supply chain problems across Canada, and lead to higher
prices for businesses and consumers, say industry observers.

CN Rail is one of two railroad companies in Canada that transports goods throughout the
country and into the U.S., carrying everything from grains and oil to vehicles and other
manufactured products.

CN Rail stock is down 9% year to date at $140.89 per share.