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

Spot market freight volumes for the month of August remained elevated compared to seasonal norms, according to data issued this week Portland, Oregon-based freight marketplace platform and information provider DAT.

Factors such as rising freight rates, shrinking capacity, an increased desire for global supply chain visibility, have all worked together to drive the need for instituting a culture of continuous improvement in logistics operations and transportation management systems (TMS). To meet today's complex logistics challenges, managers are stepping into a more streamlined, automated approach to transportation management in order to function at optimal levels both domestically and internationally. Read the latest special report.

The Atlanta-based company said that it plans to hire between 90,000-to-95,000 seasonal employees, up from about 85,000 last year, to support “the anticipated holiday surge” for package deliveries commencing in October and running through January.

The Memphis-based company reported today that quarterly net income of $606 million was up 24 percent annually, and revenue, at $11.7 billion, was up 6 percent. Operating income at $987 million was up 24 percent.

The World Shipping Council (WSC) released an update to its survey and estimate of containers lost at sea.

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