YRCW Gets $700 Million CARES Act Loan!

The US Treasury will loan YRCW $700 million under authorization from the CARES Act. $350 million will be used to make H&W and pension benefit payments, and the other $350 million will go to investment in tractors and trailers.

This will allow YRCW to pay its TeamCare and all other H&W fund obligations, protecting health care for 24,000 Teamster families.  Most of the H&W had given YRCW a deadline in early July, just days from now. 

The US Treasury will be granted 29.6% of YRCWs total outstanding shares.  Wolfe Research reports that the loan’s terms are more favorable than previous loans.  It matures on September 30, 2024. See the summary Wolfe Report here.

Here is YRCW’s announcement issued early this morning.

Get Advice Join TDU Donate

Recent News

Upcoming TDU Workshops

The TDU Convention is moving online this year. Next up are three workshops in September and October that look ahead to what it will take to rebuild union power after we elect new Teamster leadership, including Meeting the Amazon Threat, Winning the UPS Contract We Deserve, and After We Win. Find out more and register today.

Getting Results Beyond Grievances

TDU will be hosting our next workshop, Getting Results Beyond Grievances, on Sunday, September 20th at 12pm EDT / 11am CDT / 10am MDT / 9am PST. Registration for this workshop is now closed. Stay tuned for information on upcoming workshops.

View More News Posts