Security workers at the Bank of Canada began job action on June 23, 2026, after contract talks with the central bank failed to reach an agreement. The labour dispute involves approximately 120 security personnel represented by the Public Service Alliance of Canada (PSAC), who are responsible for safeguarding the bank's headquarters in Ottawa and its regional offices.
Failed negotiations lead to job action
The union announced that mediation sessions broke down over key issues including wages, benefits, and working conditions. PSAC negotiator Jane Smith stated, “Our members have been left with no choice but to take job action after the Bank of Canada refused to address fair compensation and adequate staffing levels. We remain ready to return to the table when the employer shows genuine commitment to a fair deal.” The job action includes work-to-rule measures and informational picketing, with the possibility of escalation if no progress is made.
Impact on Bank of Canada operations
The Bank of Canada confirmed that contingency plans are in place to maintain security and ensure continuity of critical functions. A spokesperson said, “The Bank remains operational and is taking all necessary steps to protect its premises, employees, and assets. We are committed to reaching a resolution that is fair to both the employees and the institution.” However, the job action may cause delays in non-essential services and increase wait times for visitors. The central bank also noted that it has deployed additional management staff to cover security posts.
Broader context of labour unrest
This dispute is part of a wider trend of labour actions across Canada’s public sector, with workers demanding better wages amid rising inflation. According to Statistics Canada, the consumer price index rose 3.1% in May 2026 compared to a year earlier, putting pressure on household budgets. The Bank of Canada security workers are seeking a wage increase of 4.5% per year over three years, while the employer has offered 2.8% annually. The union argues that the offer fails to keep pace with the cost of living and the increased responsibilities of security personnel since the COVID-19 pandemic.
Next steps in the dispute
Both sides have indicated a willingness to return to mediation, but no new dates have been set. The Canada Industrial Relations Board has been notified of the job action, and the union has filed an unfair labour practice complaint alleging that the Bank of Canada failed to bargain in good faith. If the dispute remains unresolved, a strike vote could be held within the next 30 days, potentially leading to a full walkout. The Bank of Canada has stated that it will continue to engage with the union to find a negotiated settlement.
