07:44 AM EST, 12/23/2024 (MT Newswires) -- Unifor said Sunday that its members have ratified a new collective agreement with CN Rail (CNR.TO, CNI), which was at last look was up 0.7% in US premarket trade.

"This agreement secures important gains that reflect the critical contributions of Unifor members to CN's operations," said Unifor National President Lana Payne. "We are proud to deliver improvements that address pension security, work ownership and working conditions, which were top priorities for members."

The ratified agreement, which spans four years, impacts the more than 3,000 members working in CN terminals and headquarters across Canada.

The ratification comes after Unifor members late last month authorized a strike action if the parties did not reach an agreement by Jan. 1.