Employees Approve Five-Year Master Contract for Three YRC Worldwide Companies
06 Mai 2019 - 2:16PM
YRC Worldwide (NASDAQ: YRCW) (the “Company”) announced today that
employees at three of our operating companies – YRC Freight,
Holland, and New Penn Motor Express – who are represented by the
International Brotherhood of Teamsters and covered by the National
Master Freight Agreement (NMFA) overwhelmingly approved a new five
year master contract and national economic package in what is
believed to be a record turnout for the national contract
vote. This was an important next step in the process, with
only one small supplemental agreement remaining to be resolved
before the entire contract becomes effective. We will be
working to address the last remaining localized supplement prior to
expiration of our current contract extension through May 31,
2019.
“There is a lot to be excited about with the new master
contract, and we are obviously pleased that our employees agreed by
approving the national agreement and accompanying national economic
package. The new contract supports a more market-competitive
wage and benefit package for our employees, while at the same time
enhancing our ability to provide reliable and efficient service to
our customers,” stated Darren Hawkins, YRCW Chief Executive
Officer.
“As we work to finalize the one outstanding supplement, it will
be business as usual for our companies as we focus on providing our
customers with the service they need,” said Hawkins.
The Company will outline the key benefits of the Labor Agreement
on its earnings call on May 8, 2019.
“YRC Worldwide is powered by the most professional and
experienced employees in the industry. I want to thank each
and every one of our employees for their hard work and dedication.
We will continue discussions with the IBT and employees to arrive
at a fully approved agreement quickly,” Hawkins concluded.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of
1934, as amended. The words “will,” “would,” “anticipate,”
“expect,” “believe,” “intend” and similar expressions are intended
to identify forward-looking statements. Forward-looking statements
are inherently uncertain and are subject to significant business,
economic, competitive, regulatory and other risks, uncertainties
and contingencies, known and unknown, many of which are beyond the
Company’s control. It is important to note that the achievement of
the operational efficiencies and the improved service to customers
we anticipate may be subject to a number of factors, including
(among others) those risk factors that are from time to time
included in the Company’s reports filed with the SEC, including the
Company’s reports on Forms 10-K and 10-Q.
About YRC Worldwide
YRC Worldwide Inc., headquartered in Overland
Park, Kan., is the holding company for a portfolio of
less-than-truckload (LTL) companies including Holland, New Penn,
Reddaway, YRC Freight, and YRC Reimer as well as the logistics
company HNRY Logistics. Collectively, YRC Worldwide companies have
one of the largest, most comprehensive logistics and LTL networks
in North America with local, regional, national and international
capabilities. Through their teams of experienced service
professionals, YRC Worldwide companies offer industry-leading
expertise in flexible supply chain solutions, ensuring customers
can ship industrial, commercial and retail goods with
confidence.
Please visit our website at www.yrcw.com for
more information.
Investor Contact:
Bri Simoneau913-696-6108investor@yrcw.com
Media Contact:
Mike Kelley916-696-6121mike.kelley@yrcw.com
SOURCE: YRC Worldwide
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