YRC Worldwide Inc. announced Friday, Sept. 24, that it has entered into a tentative agreement with the International Brotherhood of Teamsters to address the company’s competitiveness, re-entry into multiemployer pension funds and progress toward long-term growth.
Details of the agreement will be made available subject to the required approval by union leadership committees and the company’s board of directors, which are expected this week. Upon required approvals, the agreement will be submitted for ratification by YRCW employees represented by the Teamsters, with completion targeted for late October 2010.
“This tentative agreement is an important step toward the completion of our comprehensive recovery plan,” says Mike Smid, president of YRC and chief operations officer of YRC Worldwide, based in Overland Park, Kan. “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.”
“The recession continues to wreak havoc on the trucking industry and threatens our members’ jobs,” says Tyson Johnson, Teamsters Freight Division director and TNFINC co-chairman. “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.”