YRC Worldwide

By Jeff Berman · February 27, 2014
In a year that was replete with labor-related and financing issues, less-than-truckload (LTL) transportation services provider YRC Worldwide reported relatively solid earnings for the fourth quarter and 2013 year-end.
By John D. Schulz · February 17, 2014
YRC Worldwide, in a major refinancing aimed at lowering its annual interest payments and increasing liquidity for badly needed recapitalization, has refinanced approximately $1.1 billion in debt under much more favorable terms for the 90-year-old trucking company.
By LM Staff · January 22, 2014
Following a tentative agreement announced late last week between less-than-truckload (LTL) transportation services provider YRC Worldwide and the International Brotherhood of Teamsters on an extension of the collective bargaining agreement of YRC’s 26,000 Teamsters employees to March 2019, details of the agreement emerged yesterday at a “two-person” meeting of local union officials.
By John D. Schulz · January 20, 2014
For YRC Worldwide, it’s onto Plan B in the wake of the stunning rejection of a five-year deal to continue 15 percent wage and benefit cuts by its 26,000 Teamsters workers.
By Jeff Berman · January 15, 2014
After YRC's Teamsters shoot down management's proposal for further wage and benefits cuts, stakeholders wonder if and when customer defections could begin.
By John D. Schulz · January 10, 2014
For YRC Worldwide, it’s onto Plan B in the wake of the stunning rejection of a five-year deal to continue 15 percent wage and benefit cuts by its 26,000 Teamsters workers.
By LM Staff · January 8, 2014
In an effort to restore its financial footing and refinance its debt load, less-than-truckload (LTL) transportation services provider YRC Worldwide is looking to collect $1.15 billion in loans, according to a Bloomberg report published yesterday.
By John D. Schulz · December 9, 2013
Ballots are going out Tuesday to about 26,000 Teamsters on continuation of a wage and pension concession package that will save the ailing carrier about $100 million annually. Results of the rank-and-file vote will be announced Jan. 8 and could go a long way in determining the future of 80-year-old YRC, which has lost in excess of $2.6 billion in the last decade.
By John Schulz · November 21, 2013
Financially ailing YRC Corp., parent of the second-largest group of LTL carriers, is asking its 26,000 Teamsters employees to continue working at a 15 percent wage reduction and benefits cuts through 2018 in a labor proposal company officials have describe as vital to the future of the 87-year-old company.
By Jeff Berman · November 13, 2013
The company reported late yesterday that consolidated operating revenue for the quarter—at $1.253 billion—was up 1.3 percent annually, while consolidated operating income fell from $27.3 million to $5.8 million year-over-year.
By John D. Schulz · November 7, 2013
Financially struggling YRC Worldwide Inc., parent of the second-largest LTL carrier in the nation that has lost more than $2.6 billion in the last six years, has initiated discussions with the International Brotherhood of Teamsters in seeking another round of wage and benefit concessions.
By LM Staff · September 3, 2013
Late last week, the United States Court of Appeals for the Eighth Circuit affirmed the lower court’s decision to dismiss a complaint by less-than-truckload carrier ABF Freight System against the International Brotherhood of Teamsters and various subsidiaries of less-than-truckload transportation services provider YRC Worldwide, ABF said today.
By John D. Schulz · May 16, 2013
ABF Freight System, the nation’s sixth-largest LTL carrier, has a framework for a new five-year labor agreement with the Teamsters union. Neither side is discussing details of the deal, which still must be ratified by between 6,000 and 7,500 ABF workers.
By Jeff Berman · May 9, 2013
ABF says it is focused on its ongoing labor negotiations and other strategic and operational initiatives and that a transaction with YRC is not appropriate at this time.
By Jeff Berman · May 3, 2013
Following February’s announcement that it had achieved a positive annual operating income in 2012 for the first time in six years, the Overland Park, Kan.-based carrier said today it had a positive first quarter operating income—also for the first time in six years.

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