17:15 EDT YRCW theflyonthewall YRC Worldwide up after Teamsters announce tentative agreement
Teamsters announce tentative agreement with YRC Worldwide
The Teamsters Union announced that it reached a tentative agreement with YRC Worldwide that, if ratified by the membership, will provide a pathway for substantial debt reduction and refinancing initiatives. On January 9, a ballot count revealed that an initial company proposal was rejected by over 19,000 Teamster members who voted over several weeks. Details of the revised proposal will be reviewed at a meeting of local union officials to be held on January 21. It is up to that committee to approve sending the revised proposal to the membership for a ratification vote.