SNC-Lavalin workers return after strike, Telus acquires LifeWorks and CAE partners with video game developer
A union representing SNC-Lavalin (TSX: SNC) has voted in most part to end the strike which started after a number of failed negotiations between the company and its engineers.
Candu Energy, an SNC subsidiary, urged that all employees must return to the office within one business day’s notice after more than two years of remote work.
On Tuesday, the union stated it was a “draconian decision” to “play havoc with their employees’ lives,” in regards to the urgent move to on-site work, which impacted 900 staff.
The short notice deal was reversed, with new changes to the proposed collective agreement, detailing employees can continue working remotely until 12 October, when a new hybrid work plan will commence.
On top of this, inflation protection, updated wage premiums and a new pension plan were included in the revised version of the agreement.
Telus
Telus (TSX: T) has signed a deal to buy human resources services and technology company LifeWorks valued at $2.9 billion, including debt.
LifeWorks aids organisations in providing their workers with online employee assistance programs (EAP) with easier access to information and resources.
Following the deal, LifeWorks shareholders will choose the option to receive $33 in cash or 1.0642 Telus shares for each LifeWorks share held, subject to pro-ration.
The deal will require a two-thirds majority vote by LifeWorks shareholders as well as court and other regulatory approvals.
Royal Bank of Canada
The Royal Bank of Canada (TSX: RBC) has entered into two new partnerships, with Plaid and Envestnet, in an effort to help benefit its customers.
The collaboration with Plaid allows RBC clients to share financial data securely through a direct application programming interface (API) with apps and services of their choice on the Plaid data network.
As for the agreement with Envestnet Yodlee, it will enable RBC clients to more adequately manage finances and build wealth via the sharing of RBC financial information with more than 1,500 third-party apps through the Envestnet platform.
Canadian National Railway
Workers at Canadian National Railway (TSX: CNR) have threatened to go on strike over frustrations stemming from issues regarding wages and benefits.
On Wednesday, a union representing about 750 workers in the country vowed it could potentially go on strike on 18 June.
CNR said it received a strike notice from the International Brotherhood of Electrical Workers (IBEW), with a 72-hour notice period.
The Montreal-based rail service provider remains optimistic that a deal with the union can be reached, suggesting that it will continue to negotiate in good faith.
Bell Canada
Bell Canada, owned by BCE (TSX: BCE) is being cautioned for violations of the Telecommunications Act by the Canadian Radio-television and Telecommunications Commission (CRTC), with a fee of $7.5 million in penalties being imposed.
CRTC said Bell has denied permit applications from Quebec’s Videtron, which would have given it access to the telecom giant’s telephone poles.
This led to delays in Videotron’s network deployment and created a competitive advantage for Bell.
CRTC chairman and chief executive officer Ian Scott said the actions of Bell proved the company was willing to use its powers to maintain competitiveness within the industry.
The CRTC hopes the imposed penalties will serve as a lesson to “deter future non-compliance” with the Telecommunications Act.
CAE
Canadian manufacturer CAE (TSX: CAE) has announced a partnership with Behaviour Interactive, a North American game developer, to develop immersive training technologies that are more revolutionary than ever before.
The game developing company will aid CAE in giving it access to key multidisciplinary teams relevant to video game technology development.
CAE global engineering vice president Philippe Couillard said the opportunity is exciting for the company which prides itself on innovation.
“We are excited to partner with Behaviour Interactive to accelerate the implementation of new immersive digital solutions that will increase safety and operational efficiency,” he said.
“CAE is continually investing in the development of immersive digital training solutions that enable the creation of high-fidelity virtual worlds that are ultra-realistic; we are confident that this partnership will help strengthen CAE’s position as a global leader in emerging technologies.”