YRC Worldwide Chairman and CEO Bill Zollars has been forced to apologize to the company's Teamsters employees after making public comments hinting that the company's non-union work force would not have to take further cuts in pay. That angered YRC's 30,000 Teamsters, who already have taken a 10 percent wage cut and freezes in their pension payments. Currently YRC's Teamsters are in the process of voting on approval an additional 5 percent wage cut and more cuts in pension payments.

The Teamsters National Freight Industry Negotiating Subcommittee announced today that a tentative agreement has been reached with YRCW that addresses the company’s immediate cash concerns and long-term competitiveness while protecting Teamster members’ jobs and benefits once the company returns to profitability.

A subcommittee of the Teamsters National Freight Industry Negotiating Committee and YRC Worldwide, Inc. continued to exchange proposals today during the second day of talks aimed at trying to negotiate a plan to address the company’s short-term operating cash needs.

Negotiations will resume Wednesday, July 1, at Teamsters Headquarters in Washington, D.C.
 

Thousands of YRC Teamster members listened to a YRCW conference call at 9 p.m. Eastern Time on Thursday, June 25. If you were not able to listen to the call, you can hear it here.