STATEMENT FROM DENNIS DARBY, PRESIDENT & CEO, CANADIAN MANUFACTURERS & EXPORTERS FOLLOWING THE DECISION OF THE CANADA INDUSTRIAL RELATIONS BOARD ON A POTENTIAL RAILWAY WORK STOPPAGE

OTTAWA, ON, Aug. 9, 2024 /CNW/ - Canadian Manufactuers & Exporters (CME) are calling for emergency meetings of the House of Commons Standing Committee on Transportation following today's Canada Industrial Relations Board (CIRB) decision regarding a potential railway work stoppage.

The CIRB decision has cleared the way for a Canada-wide rail strike to happen as soon as August 22. A national rail stoppage of any length will have a castasrophic impact on Canadian manufacturers and their workers.

CME has previously called on the federal government to take immediate and decisive action to prevent a rail stoppage. During the current 10-day cooling off period  that has been mandated by the CIRB through today's decision, we are now asking for the House of Commons Standing Commitee on Transportation to convene for emergency hearings next week to study the impacts that a stoppage will have on Canadian companies and their workers, commuters and the broader economy.

This is the most important issue facing the Canadian economy and it is essential that all Members of Parliament hear directly from employers about the supply chain chaos and economic costs that a nationwide rail stoppage will impose on our country.

BY THE NUMBERS

A recent CME survey of 226 manufacturers revealed the destructive impacts that a nationwide rail stoppage will have on Canada's industrial economy:

• 66% of manufacturers said a strike will have severe consequences on their operations.
• 92% of manufacturers expect delivery delays, 76% expect to face increased costs, 57% expect reduced sales and 49% say it will reduce competitiveness.
• Manufacturers would incur an average financial impact of $275,000 each day of a stoppage (combined decreases in revenues and increases in expenses).
• 77% of manufacturers believe these labour stoppages have negatively influenced foreign investors' views of Canada.
• 88% of manufacturers support federal government intervention to prevent strikes at critical infrastructure sites, including railways.

ABOUT CANADIAN MANUFACTURERS & EXPORTERS (CME)

From the first industrial boom in Canada, CME has advocated for and represented member interests. 150 years strong, CME has earned an extensive and effective track record of working for and with 2,500 leading companies nationwide. More than 85 per cent of CME's members are SMEs and collectively account for an estimated 82 per cent of total manufacturing production and 90 per cent of Canada's exports.

SOURCE Canadian Manufacturers & Exporters