09:14 AM EDT, 05/16/2024 (MT Newswires) -- Canadian Pacific Kansas City ( CP ) on Thursday released an update on collective bargaining with the Teamsters Canada Rail Conference (TCRC).

CPKC and the TCRC leadership will resume meeting on May 17, with the assistance of federal mediators to try to achieve new agreements for the Train and Engine (T&E) and Rail Traffic Controller (RCTC) employees.

In a statement, CPKC said it is "firmly committed" to the collective bargaining process.

On May 9, the Federal Minister of Labour referred the matter to the Canada Industrial Relations Board (CIRB), which has requested submissions from CPKC and the TCRC and other interested stakeholders by May 21. The parties will have until May 31 to file replies. A legal strike or lockout cannot occur until the CIRB renders a decision.

CPKC says it has has proposed to the union that both parties agree on the services that should be maintained in the event of a strike or lockout. If no maintenance of services agreement is reached, it is unlikely the parties will be in a position to initiate a legal strike or lockout within the next 60 days, the company said.

On Wednesday, CPKC's offered to enter binding arbitration to avoid a work stoppage, but said it was rebuffed by the TCRC.