Canadian railways CN and CP end four-day shutdown due to labour dispute, costing the economy $341M/day.
Canada's two major railways, CN Railway and CP Railway, ended their four-day shutdown after a federal labour board decision. The shutdown, caused by a labour dispute, cost the Canadian economy an estimated $341 million per day and disrupted agriculture, forestry, and manufacturing sectors. Moody's warned that the halt could cost the economy $341M daily. The ramp-up to full operation is expected to take several weeks. Some industry players have called for reforms to the Canada Labour Code to avoid future labour deadlocks in critical sectors.
August 25, 2024
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