CN Rail says workers' strike to hurt profit growth in 2019
Dec 3 (Reuters) - Canadian National Railway Co CNR.TO cut its target for growth in adjusted profit for 2019 on Tuesday, citing impact of an eight-day strike that led to delays in shipments.
The rail operator expects 2019 adjusted diluted per share growth in low to mid single-digit range compared with its previous forecast of growth in the high single-digit range.
The country's biggest rail strike in a decade drew national attention over worker fatigue, after labour union Teamsters Canada released a recording of an exhausted rail worker pleading with a CN supervisor for a break after a 10-hour shift.
The strike, which saw about 3,200 conductors and yard workers stop work, demanding improved working conditions and rest breaks, ended last week.
Prior to the strike, CN said it had cut management and union jobs as it grapples with an economic slowdown.
Canada relies on CN and Canadian Pacific Railway CP.TO to move products such as crops, oil, potash, coal and other manufactured goods to domestic ports and the United States.
(Reporting by Rachit Vats in Bengaluru; Editing by Arun Koyyur and Shinjini Ganguli)
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