The CMG and The Canadian Press have reached agreement on a Voluntary Departure Program for CP employees working in Québec.
Here are some highlights:
– Employees accepted into the program will receive the same severance pay as they would in a layoff, plus additional compensation of up to 10 weeks’ pay.
– Employees who are able to retire can maintain health and dental benefits coverage for up to 10 years or until age 65.
– Payments will be made as salary continuance rather than as a lump sum. Pensionable service will continue to accrue during the salary continuation period.
We encourage you to read the full text of the agreement, which has been sent to eligible employees by CP management. If you are interested in participating, please contact Human Resources immediately. We also encourage you to get personalized advice from an independent financial advisor. Applications into the program will be accepted until June 19.
We are planning to hold general meetings in Montreal next week. For more information, please speak to a member of your Montreal location unit executive, or write to email@example.com.