Less-than-truckload carrier YRC Worldwide Inc. and the Teamsters union have traded plans this week to help the company generate short-term cash, the Teamsters said.
A subcommittee of the Teamsters National Freight Industry Negotiating Committee and YRC Worldwide, Inc. continue to assess proposals. Discussions will continue through the week and face-to-face negotiations will resume next week.
Negotiations are being held at the Teamsters’ headquarters in Washington, D.C.
A 10% wage reduction agreed to earlier this year will continue throughout the life of the current National Master Freight Agreement was estimated to save at least $225 million a year. Pay and benefits of non-union workers also were cut.