July 11, 2008: YRC Worldwide Inc. has frozen a pension plan for about 6,000 nonunion employees as it prepares to introduce a plan to cover all 17,000 members of its nonunion work force.
The freeze on benefit accruals for those workers began July 1, and a new plan is expected to be launched in January.
Click here to read more in the Kansas City Star.
Yellow Corporation released its first quarter financials on May 10. The company shows strong improvement but is still not profitable. Yellow’s overall operating ratio of 99.3 percent is 3 percent better than a year ago, but well below other LTL carriers, including ABF and TForce.
Sysco Corp announced its quarterly financial report on May 10, with profits and revenue both up dramatically since last year. Profits for the quarter were $303.33 million, up from $88.9 million last year. Revenue rose 43% from $11.8 billion to $16.9 billion.
