TT File Photo
YRC Worldwide and the Teamsters union said late Jan. 17 that they have reached a tentative new labor agreement to help the carrier deal with its debt and financial situation.
The company said the plan extends the contract to 2019 as it incorporates “a number of revisions to the company's previous proposal which address concerns raised by the Teamsters leadership and its members.”
The union said the deal was the product of “round-the-clock negotiations” this week that followed the rejection of an earlier proposal.
The Teamsters current contract ends in March 2015.
The new proposal, contained in a memorandum of understanding, “is something our employees can have confidence is the best — and only remaining — path forward," said YRC CEO James Welch.