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Drivers and dock workers at YRC Worldwide Inc. again have approved concessions aimed at keeping the trucking company viable through 2011.
In a much-awaited vote, the Teamsters said union members at YRC's operating units approved the extended agreement by healthy margins. At national carrier YRC Inc. and regional unit USF Holland, 62 percent vote to ratify while 38 percent vote against.
At New Penn, a YRC regional carrier operating in the Northeast, the vote was 69 percent approving the agreement with 31 percent rejecting the pact.
The concessions extend the union's national contract with YRC to March 2015 and maintains 15 percent wage cuts accepted last year.
In addition, the new pact allows YRC to continue suspending monthly payments into union pension plans till next June. When those payments resume, the contribution will be at one-fourth the levels that were paid previously.
The new agreement also provides Overland Park-based YRC more flexibility on various work rules.........................
YRC workers approve cuts again | Dollars & Sense
In a much-awaited vote, the Teamsters said union members at YRC's operating units approved the extended agreement by healthy margins. At national carrier YRC Inc. and regional unit USF Holland, 62 percent vote to ratify while 38 percent vote against.
At New Penn, a YRC regional carrier operating in the Northeast, the vote was 69 percent approving the agreement with 31 percent rejecting the pact.
The concessions extend the union's national contract with YRC to March 2015 and maintains 15 percent wage cuts accepted last year.
In addition, the new pact allows YRC to continue suspending monthly payments into union pension plans till next June. When those payments resume, the contribution will be at one-fourth the levels that were paid previously.
The new agreement also provides Overland Park-based YRC more flexibility on various work rules.........................
YRC workers approve cuts again | Dollars & Sense