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Teamsters ink new labor deal with YRC

Published Friday, January 09, 2009

The International Brotherhood of Teamsters has voted to modify its current labor agreement with YRC Worldwide, accepting a 10% reduction in gross wages and mileage rates and a suspension of a cost-of-living adjustment through March 31, 2013 in exchange for a 15% ownership stake in the company. The modifications passed by a vote of 77% to 23%, with more than 75% of Teamsters members casting ballots. YRC—which consists of the Yellow Transportation, Roadway, Holland and New Penn freight companies—said that non-union employees will receive the same or greater reduction in total compensation, but have ...

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