Toronto EMS received a call shortly after 1 p.m. about the accident at the yard near Markham Road and Sheppard Avenue East.
It is not immediately clear what happened, but a Toronto EMS spokesperson told CBC News that one of the injured was taken to a local hospital, the other to a trauma centre. They both suffered serious, but non-life threatening injuries.
Toronto police say the TTC reported the accident, but the people injured are not TTC employees.
The Ministry of Labour is now investigating.