More than 3,000 Canadian Pacific Railway Ltd. workers walked off the job Tuesday night, according to Bloomberg. The strike by conductors and locomotive engineers began at 10 p.m. eastern time, Teamsters Canada Rail Conference said in an emailed statement late Tuesday. Negotiations with the company are ongoing, Teamsters said minutes after Canadian Pacific reached a tentative three-year agreement with a smaller union, the International Brotherhood of Electrical Workers.
While the railroad has pledged a smooth wind down of operations, “we can’t imagine that shippers will take these assurances in stride following the subpar rail service this past winter — particularly those in the grain, oil and lumber industries,” Allison Landry, a Credit Suisse Group AG analyst said in a note to clients shortly before the stoppage. “We wouldn’t be surprised to see swift government action.”