YRC, Teamsters Set to Begin Negotiations
YRC Worldwide and the Teamsters union said they will soon begin discussions to modify terms of the union’s labor agreement for YRC employees covered under the National Master Freight Agreement.
The discussions “will address alternatives to help to reduce the company’s cost structure and preserve operating capital going forward,” YRC said in a statement.
“Entering into discussions with the Teamsters is another important step in our overall plan to strengthen our financial position during this difficult economic climate,” said Bill Zollars, YRC’s chairman and chief executive officer.
The negotiations will take place at the Teamsters’ headquarters in Washington, the union said in a statement on its Web site. The group said it “is also reaching out to other stakeholders, including the pension funds and banks.”
“We are entering these negotiations with the expectation that YRC’s banks and other stakeholders will also cooperate in helping solve the company’s immediate cash needs,” said Tyson Johnson, director of the union’s national freight division.
