It is currently being reported that the union that represents portworkers in British Columbia has rejected the tentative agreement announced last week, with workers expected to resume strikes tonight.
The International Longshore & Warehouse Union, or ILWU, reportedly saw caucus leadership reject the tentative agreement, before union members even had the opportunity to vote on the proposal. Neetu Garcha, a reporter for Global News, indicated via a tweet that ILWU has indicated it intends to resume strike activity at 4:30 this evening.
The settlement that had previously been tentatively accepted by the union contained a compound wage hike of 19.2%, which would be implemented over four years, along with a $3,000 signing bonus and increases to a retirement fund.
Information for this briefing was found via Global News and the sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
