The Teamsters have announced that a tentative agreement with YRC Freight national unit and at regional carriers New Penn and Holland.
Beleaguered less-than-truckload (LTL) carrier YRC Worldwide, Inc. has reached a tentative agreement with the International Brotherhood of Teamsters, according to announcement on the Teamsters’ website:
The Teamsters National Freight Industry Negotiating Committee (TNFINC) and YRCW companies, YRC Freight, New Penn and Holland, have reached a tentative agreement in principle for a new collective bargaining agreement to succeed the current agreement which is expiring on March 31.
TNFINC has granted a contract extension of the current agreement through May 31, 2019 in order to allow the parties to finalize some language and a few supplemental issues as well as to allow the union’s ratification process to take place.
National Freight Director and TNFINC Co-Chair Ernie Soehl stated, “The parties have worked incredibly hard to reach a new tentative agreement in principle. There were a lot of issues, history and emotions involved with these negotiations. I want to thank the union’s bargaining committee for its hard work and support. We certainly got creative, but I believe we got every penny we could have and that this contract will improve Teamster lives.”
As with the union’s practice, details of the tentative agreement will not be released until after they have been reviewed at a two-person meeting which will be scheduled in the near future.
“The Teamsters were insisting YRC would have to expand the pool of available money for wages and benefits in a new deal,” according to the Wall Street Journal, “after the union had granted givebacks several years ago to help the company regain its financial footing.”
In the past two contracts, YRC Worldwide had secured significant wage and benefit concessions from the Teamsters.
Though controversial among Teamster members, the cuts likely saved the company from bankruptcy.
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