YRC Freight set to add 200 drivers
YRC Freight President Jeff Rogers said the decision to add drivers is due to the fact that “YRC Freight is growing and our volumes are building.”
in the NewsMaersk cyber attack contained as ports and technology solution providers seek answers New wave of cyberattacks continues to impact supply chain operations Jindel tells SMC3 attendees how Amazon continues to distance itself from other retailers KION North America celebrates start of production on new forklifts Truckers say report urging FMCSA to tweak data used for CSA validates motor carriers’ complaints More News
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 AuthorJeff 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. Contact Jeff Berman
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!
2017 Rail/Intermodal Roundtable: Volume stable, business steady Cross-Border Logistics: NAFTA tune-up time View More From this Issue