CN Rail lays off some non-unionized workers in wake of record revenues
A CN locomotive goes through the CN Taschereau yard in Montreal. (File/THE CANADIAN PRESS)
The Canadian Press
Published Wednesday, November 14, 2018 3:40PM EST
MONTREAL -- Canadian National Railway Co. is laying off some non-unionized workers, less than three weeks after the company reported the highest quarterly revenues in its 99-year history.
A spokesman said no locomotive crews or front-line employees were affected, but held off on explaining what prompted the move.
CN Rail declined to say how many consultants, contractors and managers face dismissal, saying that a "small percentage" of non-unionized workers were let go.
Affected management employees were notified last Friday. The Teamsters Canada union confirmed it had not been informed of any layoffs for its members.
The Montreal-based railway earned a net income of $1.13 billion in the quarter ended Sept. 30, an 18 per cent year-over-year increase, the Montreal-based company reported last month. Revenues ramped up to $3.69 billion.
The windfall came partly as a result of $48 million in land sales and higher pricing for coal, lumber and petroleum and chemicals amidst an economy firing on all cylinders.