Canada Post and the union representing its 53,000 workers have reached an agreement in principle, moving closer to a new contract and resolving a prolonged labor dispute. The Canadian Union of Postal Workers (CUPW) announced on Friday that it will pause strike actions while entering final negotiations. In turn, Canada Post will suspend any lockout measures. CUPW National President Jan Simpson stated, "This means both sides have agreed on the main points of the deals, but we need to agree on the contractual language that will form the collective agreements that would be put to a vote by the members." She also noted that if the parties cannot agree on the language of the agreement, the suspension of strike actions will be lifted, allowing the union to resume strike activities. Details of the tentative agreement have not been disclosed. The agreement comes after more than two years of negotiations, which included two national strikes. The union emphasized that while negotiations are ongoing, it retains the right to strike until new agreements are ratified. The recent negotiations were facilitated by federally-appointed mediator Peter Simpson. The agreement follows a federal government decision to approve a significant restructuring of Canada Post, which includes eliminating home delivery and increasing the use of community mailboxes. Federal Infrastructure Minister Joel Lightbound described the restructuring as essential to address an "existential crisis" facing the financially struggling Crown corporation. In late September, the government announced changes recommended in a May report by the Industrial Inquiry Commission, which led to CUPW launching its second national strike within a year. This strike was later modified to a series of rotating regional strikes. On November 7, Canada Post submitted its implementation plan for the restructuring to the federal government but has not made the details public pending final approval. CUPW has expressed concerns that the restructuring will result in service cutbacks and job losses. In August, union members rejected Canada Post's final offer, which included a 13 percent wage increase over four years and a $1,000 signing bonus. Further updates on the negotiations and the agreement are expected as the parties work to finalize the contract details.