Supply Chain News / Risk & Compliance / Ground

Breaking News - YRC Statement on Teamster Negotiations

YRC Worldwide issued a statement on the current proposed contract extension.

January 16, 2014
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YRC Worldwide Inc. (Nasdaq:YRCW) announced today that it is in discussions with officials of the International Brotherhood of Teamsters (IBT) to determine the next steps to move the company forward following last week's vote. The company plans to revise its proposal to both work within the requirements of the capital markets to refinance the company and protect the jobs of its 32,000 employees.

 

"It is clear the Teamsters understand the urgency of the current situation," said YRC Worldwide CEO James Welch. "Although the company must achieve operational costs savings in the agreement, we also understand that simply re-voting the same proposal is not an option."

Welch explained, "Over the past few days, many employees have reached out to me expressing concern about the future of the company and about how they could protect their jobs."

 

"While we are in discussions with the IBT to set the blueprint for the long-term future of the company, our drivers, dockworkers, account executives and customer service teams have been hard at work serving our customers," added Welch.

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