According to a news release issued by trucking giant YRC Worldwide (YRCW), it’s “entered into a tentative agreement with the International Brotherhood of Teamsters [IBT] to address the company's competitiveness, re-entry into multi-employer pension funds and progress toward long-term growth.” YRC said details of the agreement will be made available only after approval by IBT and the company's own board, expected this week.
The trucking concern said the deal will be submitted for ratification by YRCW employees who are Teamsters, with completion targeted for late October .
"This tentative agreement is an important step toward the completion of our comprehensive recovery plan," said Mike Smid, president of YRC and COO of YRCW. "As our business continues to improve, the implementation of this tentative agreement will allow us to continue to provide our customers with a comprehensive portfolio of services that is competitive and reliable."
A statement released by the Teamsters suggests there is little to battle about this time out. “The recession continues to wreak havoc on the trucking industry and threatens our members’ jobs,” said Tyson Johnson, Teamsters Freight Div. director. “Unfortunately, as workers all across the country know too well, the economy has not improved as quickly as we had hoped. The sluggish economy and smaller customer base leaves us in a position today where we face very, very difficult decisions.”
YRCW, a Fortune 500 company headquartered in Overland Park, KS, is the holding company for such operations as YRC, YRC Reimer, YRC Glen Moore, Reddaway, Holland and New Penn. It also provides China-based services through its Jiayu and JHJ joint ventures.
