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Teamster freight members ratify yrcw restructuring plan

Jeff

Sole Proprietor
Administrator
Super Administrator
Washington, D.C.) – Teamster members who work at YRC Worldwide Inc.’s (YRCW) operating companies YRC, Holland and New Penn have ratified the “Restructuring Plan” that is aimed at saving more than 25,000 union jobs. YRC and Holland members ratified the agreement by a 62 percent to 38 percent margin, while members at New Penn ratified the agreement by a 69 to 31 percent margin. About 67 percent of YRCW Teamsters cast ballots.
http://www.teamster.org/content/teamster-freight-members-ratify-yrcw-restructuring-plan
 

Jeff

Sole Proprietor
Administrator
Super Administrator
October 30, 2010
Agreement Is Aimed at Saving More Than 25,000 Jobs
PRESS CONTACT
Galen Munroe
gmunroe@teamster.org
202-439-7427
(Washington, D.C.) – Teamster members who work at YRC Worldwide Inc.’s (YRCW) operating companies YRC, Holland and New Penn have ratified the “Restructuring Plan” that is aimed at saving more than 25,000 union jobs. YRC and Holland members ratified the agreement by a 62 percent to 38 percent margin, while members at New Penn ratified the agreement by a 69 to 31 percent margin. About 67 percent of YRCW Teamsters cast ballots.

The ratified Restructuring Plan is the product of months of discussions and difficult negotiations by the Teamsters National Industry Freight Negotiating Committee (TNFINC) in consultation with Teamster local unions. On September 29, leaders from Teamster freight local unions unanimously recommended to send the plan to a membership vote. Union members voted by mail over the past three weeks and ballots were counted this weekend.

“We realize that in ratifying this Restructuring Plan our members will continue to make huge sacrifices, which have been very difficult for our members and their families during the worst economic recession in decades,” said Tyson Johnson, Director of the Teamsters National Freight Division. “However, we firmly believe this plan is the only hope for saving our members’ jobs as this recession continues to cause so much hardship.”

“As painful as the sacrifices are on an individual level, our members understood that by approving this Restructuring Plan they would be setting the stage for the company’s existing lenders to do their part and make this company an attractive investment for new investors and preserve their jobs,” Teamsters General President Jim Hoffa said. “As this restructuring moves forward over the next three to six months, the union will be involved every step of the way.”

During negotiations with the company, the union received input from a team of experienced, respected and independent financial and restructuring experts it assembled over the past year to verify the company’s financial situation and to assist in developing this restructuring plan. Through this lengthy and on-going process, the union has reviewed numerous financial and operational reports on YRCW and determined that this Restructuring Plan is the only avenue to save and hopefully grow the respective companies it operates.

The Restructuring Plan modifies and extends the current National Master Freight Agreement (NMFA) and Supplemental Agreements for a two-year period until March 31, 2015 and provides for annual wage and benefit increases including a resumption of partial pension contributions beginning in June 2011.

In addition to participating in the debt reduction and equity investment discussions to create a sustainable company, the union will require equity ownership of the company and, at a minimum, one additional board seat. The plan also calls for continued equal sacrifice—management and non-union employees are required to participate in cost sharing in an equal manner. The plan has additional compensation improvements for Teamster members based on the company’s future operating performance.

The International Brotherhood of Teamsters was founded in 1903 and represents 1.4 million hardworking men and women throughout the United States, Canada and Puerto Rico.
 

newpenn107

Well-Known Member
Watch the cuts begin before year end. how many more job losses and terminal closings is the only unanswered question
 

Northern Flash

Let's go Brandon!
Premium
Thanks Jeff.

I heard that Tyson and Zollars just sat down to begin putting the next concession on paper. They have us rolling down hill now. It should be put to vote by the end of the year.
 

Chicago Roadway

Well-Known Member

Thanks Jeff and the truckingboards as usual First!

And another thanks for Merging the Forums it should
make things real easy soon!
 
Last edited by a moderator:
YRC employees just put the trucking industry back 50 years, I can understand they want a job, but to sell out all the men over the years that sacrificed everything, went on strickes, walkouts, and hung onto their pride to get what we all have today only to have a few, give it all away in one vote. None of you cared what a yes vote will do to all of the trucking industry both union and non union. You only cared about yourself. ( hoary for me and f---k you ). I don't want any of you to come to me whinny about anything.
 

animal70X7

Active Member
How do we start a vote for de-certification? The international OBVIOUSLY represents the company and itself. Will Mr. Johnson show "equal sacrifice" and give p some of his pensions?
 

cracker

Well-Known Member
We are screwed!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! wonder how long before Holland is merged with YRC now????
 

longblade

im here to make you uncomfortable
fool me once shame on you . fool me twice shame on me . fool me 4 time have stupid tatooed on forehead .
the yes guys think they won now.they will be sorry . wonder how long b4 the lay offs and terminal closings begin.
if any1 thinks they will get to retire now boy are they kidding themselfs.
 

SuperCourse

"F*ck Joe Biden"
Thanks Jeff.

I heard that Tyson and Zollars just sat down to begin putting the next concession on paper. They have us rolling down hill now. It should be put to vote by the end of the year.
Hey, why wouldn't they Flash? They can get anything they ask for as long as they preface it by saying "this is what we need, or we shut down". If I was running YRC I'd make sure the results are bad for the next couple of quarters so I could come back to the "Teamster Teet" a couple more times.
Not to get too far off track here but you do realize that the Federal Reserve is going to buy Treasuries and hit us with a round of quantitative easing. Results-weakening dollar resulting in spiking oil-$5 a gallon for gas and runaway inflation, just when you've locked yourself into a 5yr. pay cut. Good luck with that
 

newpenn107

Well-Known Member
YRC employees just put the trucking industry back 50 years, I can understand they want a job, but to sell out all the men over the years that sacrificed everything, went on strickes, walkouts, and hung onto their pride to get what we all have today only to have a few, give it all away in one vote. None of you cared what a yes vote will do to all of the trucking industry both union and non union. You only cared about yourself. ( hoary for me and f---k you ). I don't want any of you to come to me whinny about anything.

Sad to watch a beat down for the 3rd time and they never threw one punch back....
 

NO WAY NO HOW

Active Member
Hold the Press............ the vote did not go how we wanted it to go!!! I demand a revote till we get the NO vote we want!!! Thats what they did on the 2nd concession with New Penn!! lets turn the table and demand it on this one!!!

O Well... we are officially a S_ _ B outfit now.. no security, and management can do as they please!

Lets all have a moment of silence for the Death of the Teamsters!
 
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