YRC “Economic Relief Plan”

July 14, 2009: The tentative deal with YRC contains an additional 5% wage cut, a reduction in H&W contributions, and an 18-month pension contribution termination period, as well as union proposals.

Click here to read the IBT’s two-page summary of the agreement.

Click here to read the IBT's Memorandum of Understanding with YRCW.

If approved in a membership vote, the additional pay cut (approximately $1.16 per hour) will go into effect immediately after ratification; the pension termination period will begin July 1 and end December 31, 2010; the contractual health and welfare contribution increase due on August 1 will be reduced to 20¢ per hour.

The temporary pension termination is the biggest item, a cut of $7.60 per hour in pension contributions for the first year of the 18 months, and $8.20 for the latter part of 2010.

The union gained an appointee to the board of directors, a corporate turnaround expert in place at YRC, and the ability for members to obtain more stock options.

Additionally, some of the job protections advocated by TDU were added to the tentative agreement: extending recall rights to 10 years; return of office work from India; “card check” rights to organize all units at all terminals; some form of “snap back” clauses; and some limit on work subcontracted out through YRC Logistics. The details remain to be seen regarding all of these provisions.

Click here to see the International Union’s two-page summary of the tentative agreement with YRC.

Click here to read the IBT's Memorandum of Understanding with YRCW.


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