Canada Post and its postal workers have officially signed new collective agreements, ending a two-year-long bargaining process that included seven weeks of nationwide strikes.

The contracts remain in effect until Jan. 31, 2029.

“With the stability of new agreements in place, we look forward to working with our employees and bargaining agents to rebuild the business, restore confidence in the postal service and better serve the country,” the Crown corporation said in a statement Thursday.

Earlier this month, Canadian Union of Postal Workers (CUPW), which represents 55,000 employees, voted to ratify the tentative agreements reached by the parties back in December.

As part of the new contracts, the parties have agreed to wage increases of 6.5 per cent in year one, including five per cent already received, and a three per cent increase in year two. For years three to five, annual wage increases would match the inflation rate of the Consumer Price Index.

“Having these new agreements in place is critical as we move ahead with a multi-year transformation to return to financial sustainability and better meet the modern needs of the country,” Canada Post said.

“It’s important that we move forward in a timely manner, while continuing to work closely with our bargaining agents and the Government of Canada.”

• Email: dpaglinawan@postmedia.com