imported_Racer
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On Friday total of about 25 IT people were let go at both general offices. Also last week the rating department was told that their jobs are being outsourced to India. What is going to be left in this country?
Yellow | More Let Go On Friday
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imported_Jack
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The company is clearly in survival mode. Sad, very sad. Glad Galen doesn't have to witness this.
R
Ranger309
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Jobs at Walmart wages.
This company is as healthy as any other trucking company out there. They are just using the current economic environment to put these companies together ( which has been the plan from day 1). They gave alot of the freight they had away saying they couldn't make money on it, however the companies that picked it up seem to be doing just fine with it. You can feel sorry for them if you want but I see through what they are doing and when the economy gets better( and It will) they are going to be in position to make record profits due to all these cuts and being one company. Things are going to be fine. I hate to see people lose their jobs but stuff like that happens, I hope the best for all involved. The following statement is from KC business Journal 9/8/08:
YRC said in the release that it “expects to report a solid profit in the third quarter” due to a curtailment gain of about 70 cents a share for combining its retirement plans for nonunion employees.
bubbadog121
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Third Quarter
Here is the rest of the statement taken from YRC's press release:
The company expects to report a solid profit in the third quarter 2008 due to the curtailment gain of approximately $.70 per share related to the harmonization of its retirement plans for nonunion employees. However, as a result of the further weakness in the economy and some early investments in the integration of the national networks, the company now expects a slight loss from core operations in the third quarter. The company also expects to incur reorganization costs of about $.06 to $.08 per share primarily related to employee severance.
Here is the rest of the statement taken from YRC's press release:
The company expects to report a solid profit in the third quarter 2008 due to the curtailment gain of approximately $.70 per share related to the harmonization of its retirement plans for nonunion employees. However, as a result of the further weakness in the economy and some early investments in the integration of the national networks, the company now expects a slight loss from core operations in the third quarter. The company also expects to incur reorganization costs of about $.06 to $.08 per share primarily related to employee severance.
Freightmaster1
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Don't Go Down Without A Fight!
If you know of any non-union hourly employees at your barn who might be eligible to join the union, talk to them asap about joining the union NOW to get some protection from the layoffs! The layoffs for them don't go by seniority, but a lot of times go by who makes the least amount of money, who is the biggest brown noser, etc...They need to get some real seniority rights, and some contractual language to protect them from unfair treatment, and protection to follow their work if necessary! Ask you local union officials to help you with this effort! If you know any of them that work at the KCGO in Overland Park, KS or at the AGO in Akron, OH, encourage them to contact Local 41 in Kansas City or Local 24 in Akron, and start the ball rolling now! What do they have to lose? YRC is going to try to eliminate all the jobs it can in the next 6 months and these non-union hourly people are the most vulnerable! Let's all FIGHT THE POWER!:USA:
If you know of any non-union hourly employees at your barn who might be eligible to join the union, talk to them asap about joining the union NOW to get some protection from the layoffs! The layoffs for them don't go by seniority, but a lot of times go by who makes the least amount of money, who is the biggest brown noser, etc...They need to get some real seniority rights, and some contractual language to protect them from unfair treatment, and protection to follow their work if necessary! Ask you local union officials to help you with this effort! If you know any of them that work at the KCGO in Overland Park, KS or at the AGO in Akron, OH, encourage them to contact Local 41 in Kansas City or Local 24 in Akron, and start the ball rolling now! What do they have to lose? YRC is going to try to eliminate all the jobs it can in the next 6 months and these non-union hourly people are the most vulnerable! Let's all FIGHT THE POWER!:USA:It states a slight loss, my point is that history shows that companies in trouble record several consecutive quarterly losses not just the speed bump
variety. I think YRC inc will be here after I'm long gone.
I get it. You never see the bad in anything, wished I could be like that.
But I read slight loss in "core operations" what does that mean? Is that just the National or all the divisions? Could they also lose BIG outside of the "core"? I honestly don't know so be nice when you explain it. :smilie_132:I get it. You never see the bad in anything, wished I could be like that.
I think that would be on the National side since it is the largest part of the business, but I'm not sure. I do try to remain positive because there isn't anything I can do about it anyway. I'll keep showing up until they tell me to stay home. I remember trying to cash an Eastern Express check at a bar back in May of 77 and getting kicked out. The YRC's are still being deposited for my spending enjoyment.
bubbadog121
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National
Wolf,
I think I read somewhere that the nationals account for 70% of the income for YRC so, I think that is what is meant by core operations.But don't quote me on that.
I get it. You never see the bad in anything, wished I could be like that.
Wolf,
I think I read somewhere that the nationals account for 70% of the income for YRC so, I think that is what is meant by core operations.But don't quote me on that.