Holland | Teamster Freight Members Ratify YRCW Job Security Plan
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YRC Teamsters Ratify Wage, Benefit Plan
YRC Teamsters Ratify Wage, Benefit Plan
Teamsters at YRC, Holland approve pact, but New Penn workers say 'no'
Teamsters at two of YRC Worldwide's largest subsidiaries approved wage and benefit concessions that will provide immediate economic relief for the nation's largest less-than-truckload operator.
Union members at national LTL carrier YRC and regional carrier Holland voted 58.5 to 41.5 in favor of the package, which cuts their wages by 15 percent and suspends pension contributions for 18 months, saving the company more than $1 billion over the life of the National Master Freight Agreement, which expires in 2013.
“Now YRCW, banks and other stakeholders have to step up and do their part to ensure the company’s long-term survival,” said Teamsters General President James P. Hoffa. “Do the banks want the fate of 35,000 YRCW workers, hundreds of thousands of retirees, and hundreds of thousands of other workers to be their responsibility if they do not significantly rework YRCW’s loan facilities?”
YRC Teamsters Ratify Wage, Benefit Plan | Journal of Commerce
http://www.truckingboards.com/truck...panies-also-had-big-bounce-37.html#post682130
YRC Teamsters Ratify Wage, Benefit Plan
Teamsters at YRC, Holland approve pact, but New Penn workers say 'no'
Teamsters at two of YRC Worldwide's largest subsidiaries approved wage and benefit concessions that will provide immediate economic relief for the nation's largest less-than-truckload operator.
Union members at national LTL carrier YRC and regional carrier Holland voted 58.5 to 41.5 in favor of the package, which cuts their wages by 15 percent and suspends pension contributions for 18 months, saving the company more than $1 billion over the life of the National Master Freight Agreement, which expires in 2013.
“Now YRCW, banks and other stakeholders have to step up and do their part to ensure the company’s long-term survival,” said Teamsters General President James P. Hoffa. “Do the banks want the fate of 35,000 YRCW workers, hundreds of thousands of retirees, and hundreds of thousands of other workers to be their responsibility if they do not significantly rework YRCW’s loan facilities?”
YRC Teamsters Ratify Wage, Benefit Plan | Journal of Commerce
http://www.truckingboards.com/truck...panies-also-had-big-bounce-37.html#post682130