Subscribe to our free, weekly email newsletter!


YRC Freight set to add 200 drivers

By Jeff Berman, Group News Editor
May 16, 2012

YRC Freight, the largest unit within less-than-truckload (LTL) transportation services provider YRC Worldwide, said this week it plans to hire 200 qualified over-the-road drivers in several cities.

Company officials said that the new drivers will primarily be in: in Maybrook, NY; Buffalo, NY; St. Paul, MN; Chicago, Il; Salt Lake City, UT; Akron, OH; Cleveland, OH; Cincinnati, OH; North Indianapolis, IN; Charlotte, NC; Jackson, MS: Albuquerque, NM; and Kansas City, MO.

YRC Freight President Jeff Rogers said in a statement that this decision to add drivers is due to the fact that “YRC Freight is growing and our volumes are building.”

The company added that YRC Freight offers drivers full paid health care benefits and vacation time, adding that drivers are paid union contract pay rates. It also noted that all equipment is provided and maintained by the company and all fuel cost is paid for by the company.

Earlier this month, the Overland Park, Kan.-based carrier reported that its quarterly consolidated operating revenue—at $1.194 billion—was up 6.4 percent annually, while its consolidated operating loss—of $48.8 million—included an $8.4 million loss on asset disposals.

And just prior to that YRCW announced it reached agreements with its lenders to reset certain financial covenants over the life of millions of dollars worth of loans. YRC said its lenders agreed to allow the carrier to retain all proceeds from the auction of certain surplus properties and terminals. YRC added that new lending agreements were supported by all of its term credit agreement lenders and all of its ABL credit agreement lenders.

YRC has lost more than $2.6 billion in the last five years.

Since the depths of the recession in 2009, when LTL carriers ostensibly lost much of its pricing power, the pendulum has been slowly working its way back into the favor of LTL carriers. While YRCW has a ways to go still before it is financially solvent, this quarterly performance continues a positive trend in that its losses in recent quarters continue to narrow.

About the Author

Jeff Berman headshot
Jeff Berman
Group News Editor

Jeff Berman is Group News Editor for Logistics Management, Modern Materials Handling, and Supply Chain Management Review. Jeff works and lives in Cape Elizabeth, Maine, where he covers all aspects of the supply chain, logistics, freight transportation, and materials handling sectors on a daily basis. .(JavaScript must be enabled to view this email address).


Subscribe to Logistics Management magazine

Subscribe today. It's FREE!
Get timely insider information that you can use to better manage your
entire logistics operation.
Start your FREE subscription today!

Recent Entries

Over $2 billion dollars in carrier overcharges go uncollected each year as shippers do not have the time or resources to collect refunds.

Last year at this time, retailers were relieved to learn that a tentative agreement on a new labor contract had been reached by dockside labor and management on the U.S. East and Gulf coasts. But not without considerable blood on the floor.

The National Retail Federation is encouraging maritime management and the union representing dockworkers along the U.S. West Coast ports to expedite pending contract negotiations and reach agreement on a new deal well in advance of the expiration of the current contract this summer.

SAP AG announced the availability of a new application to help centralize processing trade activities, SAP Global Trade Services, processing trade in China. 



Did you know that Supplier Portals can help companies reduce risk, improve compliance and enhance product availability? Download Amber Road's latest research report featuring research from Gartner.

Article Topics

News · LTL · YRC Worldwide · YRC Freight · All topics

Comments

Post a comment
Commenting is not available in this channel entry.


© Copyright 2013 Peerless Media LLC, a division of EH Publishing, Inc • 111 Speen Street, Ste 200, Framingham, MA 01701 USA