Trucking Company YRC, Teamsters Reach Tentative Contract Agreement
Date: Friday, March 22, 2019
Source: The Wall Street Journal
Deal covering thousands of workers is reached 10 days before pact expires
Trucker YRC Worldwide Inc. and the Teamsters union have reached a tentative deal on a new contract covering thousands of workers at one of the biggest U.S. trucking companies, the union said late Thursday.
A current labor agreement covering International Brotherhood of Teamsters members at three YRC subsidiaries was set to expire March 31. As recently as last week, both sides remained apart on long-term wage and benefit packages in one of the last areas of unionized operations in truck transportation.
The union negotiating committee said on the Teamsters website it reached a tentative agreement in principle with YRC’s YRC Freight, New Penn and Holland subsidiaries. The committee granted an extension of the current agreement through May 31 to allow both sides to finalize language and other issues and to allow for ratification votes for rank-and-file union members.
The Teamsters were insisting YRC would have to expand the pool of available money for wages and benefits in a new deal after the union had granted givebacks several years ago to help the company regain its financial footing.
Details of the agreement, including the length of the pact and wage terms, won’t be released “until after they have been reviewed at a two-person meeting which will be scheduled in the near future,” according to the post. Arcbest Corp., parent of YRC competitor ABF Freight, struck a five-year contract with the Teamsters last year.
“We certainly got creative, but I believe we got every penny we could have and that this contract will improve Teamster lives,” the Teamster’s national freight director and negotiating committee co-chairman. Ernie Soehl, said in the post.
Neither YRC nor the Teamsters immediately responded to requests for comment.