Canadian National Railway Co. says it has concluded arbitration with the International Brotherhood of Electrical Workers, resulting in a three-year collective agreement that includes a three per cent wage increase.

CN says the collective agreement is retroactive to Jan. 1, 2022 and runs through Dec. 31, 2024.

The wage increase is three per cent annually for 2022, 2023 and 2024.

CN's chief operating officer Rob Reilly says the company is satisfied to have concluded arbitration and is focused on implementing a "back to basics approach by running a scheduled operation, aligning capacity with demand and working closely with its customers and stakeholders" to maximize the effectiveness and efficiency of its rail network.

IBEW, which represents approximately 750 unionized signals and communications employees in CN’s Canadian operations, had agreed to binding arbitration in July, ending a two-week strike.

CN hauls more than 300 million tonnes of commodities and consumer goods across the continent each year.

This report by The Canadian Press was first published Oct. 11, 2022.