Teamsters agree to more concessions with YRC

OVERLAND PARK, KS -- In a long-awaited vote, Teamster drivers and dock workers have agreed once again to help their struggling employer YRC Worldwide Inc. by extending 15% wage cuts accepted last year. The latest concession package is the third passed by YRC's Teamsters workers.

With only 67 percent casting ballots, 62 percent voted to ratify the agreement while 38 percent voted against it. The union’s national contract, now extended until March 2015, also suspends monthly payments to union pensions until June. YRC said the agreement would save the company $350 million annually.

YRC has over 25,000 hourly employees, with about 12,000 drivers and dock workers on layoff. 

From Kansas City Star, Kansas City Business Journal and PRnewswire