TORONTO (Reuters) - Canadian National Railway Co (CNR.TO) unionized conductors, yard workers and traffic coordinators will receive 3-percent annual raises under a three-year labor contract agreed to by an arbitrator, Canada's largest railway said on Friday.
The railway and the Teamsters union, which represents some 3,000 workers, agreed in March to go to arbitration after union members twice voted down tentative agreements reached with the Montreal-based railway.
CN said it will immediately begin to implement the new contract, which provides for a 3-percent raise retroactive to July 23, 2013, and similar raises effective in July 2014 and July 2015.
The decision is binding on both parties, the railway said.
Reporting by Cameron French; Editing by Lisa Shumaker