Unionized employees at three of less-than-truckload carrier YRC Worldwide, Inc.’s (NASDAQ:YRCW) operating units will get a $4 per hour pay raise over the next five years – including an immediate $1 per hour increase – annualized hikes in contributions toward their health and welfare benefits, and the return of one week’s paid vacation relinquished in 2010, under the terms of a tentative collective-bargaining agreement between the company and the Teamsters union disclosed late today.
However, the tentative agreement does not call for an increase in YRC’s pension contributions, which were slashed by about 75 percent in 2010 as the company was fighting for survival. Contributions have remained at the same levels ever since. The agreement covers some 20,000 workers employed at YRC’s YRC Freight long-haul unit and at regional carriers Holland and New Penn Motor Express. YRC’s third U.S. unit, Reddaway, is covered by a separate agreement.
In addition, Holland will, for the first time, be able to use purchased transportation services, which will be capped at the equivalent of 8 percent of miles driven. YRC Freight has used purchased transportation on a limited basis for the past five years. The parent company can also establish a rail intermodal service subject to strict restrictions designed to minimize any reduction in bargaining-unit driving. Teamsters officials said that union negotiators have the authority to limit or shut down the use of purchased transportation by either operating company.
Ballots will be mailed to members on April 19, with the votes set to be tallied and the results announced on May 3. The current contract had been extended for two months beyond its original March 31 expiration date. The new compact, if ratified, would be retroactive to April 1.
In a communique released prior to a conference call this evening with the rank-and-file, union leaders said the three operating companies could not afford “one more penny” beyond what they agreed to pay under the agreement. Customers were already threatening to divert freight from the units in the days leading up to the tentative agreement, Teamsters leaders wrote. A two-month contract extension until May 31 was “necessary to keep the customers in place while the ratification process takes place,” leaders wrote.
In the document, Teamsters leaders said that customers would pull their freight if the rank-and-file rejects the agreement. Voting down the contract would constitute a strike authorization under the Teamsters constitution. However, a strike would never occur because customers would have already fled to other carriers, they added.
Disturbed
Will everyone be at the same pay scale or will their still be 4 or 5 different pay scales
22 year yellow
GO ON STRIKE FOR 2 MONTHS…..LOSE $12000 IN PAY……..HOW MANY YEARS TO EARN THAT BACK……YOU CANT COUNT THAT HIGH……GO SOMEWHERE ELSE …MISS A FEW DAYS WORK ….SEE WHAT HAPPENS!
Steve
With the cost of ins for a family plan this would put me around $30 per hour when the full $4 is implemented. I vote yes. For all those complaining, you brought it upon yourself. I’ve heard many say they only give 85% effort, so they ran the company into the ground. Congrats, you get to reap the rewards
Keith Ervin
All of you read the third quarter results of 2018. The company was turning down profitable Freight because they couldn’t find any drivers. My solution would be to increase the wages and attract more drivers. Obviously, with this low increase in wages, they will still fail to attract any quality employees. No increase in the pension or 401k???
Suggestion
1- TEAMSTERS WITH BRAINS VOTE NO !!
2-CARDHOLDERS AND UNEDUCATED MEMBERS WILL VOTE YES !!
3- SOME MEMBERS WONT VOTE AND JUST BITCH AND BRING OTHERS DOWN.
TAKE A CLOSE LOOK ON WHO IS PUSHING YES VOTE AND WATCH THEN BE EXPOSED……EASY AS 1, 2, 3,
Drain it Now
Sadly the company understands the lack of intelligence by the rank and file and the CONTROL By the internatonal who is conflicted with bias.
If you have a good understanding of the economy and the direction this country is going you would fear nothing and understand what’s on the table.
But unfortunately for the rank and file they can not use their logical sense and judgment to understand that they have been under democratic policies that have failed them more then you would ever understand.
We become a societee of acceptance we become and a societee Of individuals who believe that the bare minimum is enough and forgot the fight and bite in a dog who has been kicked.
The comments I see are not surprising just like the political affiliation that they’re promoting good luck I wish everyone prosperity but more important I wish more intelligence within the rank and file.
Bill
You no voters are a bunch of cry babies that think you’re going to get everything you want and more well you’re not this is one of the best contracts they put out in quite a while I’m a 30-year Teamster I’m voting yes this is the easiest job I’ve ever had here at Holland so quit crying if you don’t like it don’t vote quit and go somewhere else and work dont ruin a good job the rest of us want to keep
Isaac
I gave 14000 back in 2018 we are the lowest ltl in the twin cities a dallor will not even come close 4 dallors would bring us half way imagine how broke we will look in five years when every other ltl company is over 30 dallors an hour. I agree vote no the freight has to go some where… Other companies are paying 28-30 dallors an hr ill start my own retirement that is 100% on that..:)