www.wsj.com/articles/trucking-company-yrc-teamsters-reach-tentative-contract-agreement-11553226419 YRC Worldwide – the parent company of YRC Freight, New Penn and Holland – and the Teamsters union have reached an interim agreement on a new collective agreement. Details of the new employment contract have not been published. The company stressed: “Details of the preliminary agreement are expected to be available next week [July 13-17] after further discussions with union management. The amended agreement will be voted on by YRC Worldwide staff represented by IBT. “The parties have worked hard to reach a new tentative tentative agreement,” said Ernie Soehl, Teamsters National Cargo Director and TNFINC Co-Chair. “There were a lot of problems, history and emotions associated with these negotiations. » Pension Fund Progress – YRC Worldwide announced last month [June] an agreement with the Company`s Central States, Southeast and Southwest Regions (“Central States”) Pension Fund, the largest of the Company`s International Brotherhood of Teamsters (“IBT”) multi-employer defined benefit pension funds, to provide some of the Company`s assets as collateral in lieu of second-quarter pension contributions for a deferral of $83 million. Furnish. Since the announcement, seven additional funds have joined the same agreement for a carry-forward of an additional $11 million. The company is continuing discussions with its other IBT pension funds with several employers.
A current employment contract for members of the International Brotherhood of Teamsters in three YRC affiliates expired on March 31. Just last week, the two sides remained separate in one of the last areas of unionized trucking operations on long-term wages and benefits. Trucker YRC Worldwide Inc. and the Teamsters union have reached a preliminary agreement on a new contract for thousands of workers at one of America`s largest freight forwarding companies, the union said Thursday night. In financial difficulty, YRCW announced a preliminary agreement with the International Brotherhood of Teamsters on measures that it believed would help maintain the airline`s cash position, with TNFINC`s national cargo director and co-chair, Ernie Soehl, said: “The parties have worked incredibly hard to reach a new provisional settlement in principle.