YRC Worldwide Inc., saying it intends to negotiate an extended labor contract with the Teamsters union, has delayed release of its quarterly financial report.
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YRC Worldwide Inc. had originally been expected to release earnings last week, but then it scheduled them for Thursday. On Wednesday afternoon, the Overland Park based less-than-truckload carrier (Nasdaq: YRCW) delayed its quarterly financial report to Tuesday.
YRC Worldwide Inc. says it needs the Teamsters to extend existing concessions if the company is to be able to refinance its debts.
The forbearance of YRC Worldwide Inc.'s unionized workforce is about to be tested again.
Members of the International Brotherhood of Teamsters' ABF master negotiating committee Oct. 30 accepted ABF Freight System Inc.'s last proposal for the only unapproved supplement to the national master freight agreement after members covered by the Central Region Local Cartage Agreement voted not to authorize a strike, the union announced.
It took a lot of blood, sweat and tears—not to mention many months of hard-nosed negotiations—but financially ailingABF Freight System, the nation’s sixth-largest LTL carrier, has finalized a five-year deal with the Teamsters union that is projected to save the nation’s sixth-largest LTL carrier between $55 and $65 million annually.
A local office of ABF Freight System employees represented by the International Brotherhood of Teamsters have rejected a move to strike and will continue to seek approval of a supplemental contract for the office.
Members of the International Brotherhood of Teamsters are preparing to meet with company leadership from YRC Worldwide Inc. in Dallas, and the topic on everyone's mind is concessions.
October 29, 2013: On November 5, YRC execs will meet with the IBT Freight Division and all freight local unions to press for a contract extension, reportedly until 2019. Hoffa and the Freight Division have agreed to allow YRC to address local union officials in Dallas.
Key Development: FMCSA issues final rule codifying a previous announcement that the agency's requirement that commercial truck drivers take 30-minute breaks does not apply to short-haul drivers.