Tuesday, December 15, 2009

YRC Worldwide again will slash pay of nonunion workers

Embattled trucking firm YRC Worldwide Inc. last week took another step to preserve cash, telling its nonunion employees that their pay will be slashed again for one month starting Wednesday.

YRC's salaried work force, which already took a 10 percent wage reduction to start the year, will have its pay reduced an additional 18.4 percent over the next month, ending Jan. 15. Details of the cut were disclosed in an e-mail sent to employees last week by Bill Zollars, YRC's chairman and chief executive.

Also in the message, Zollars said a one-week furlough for all nonunion workers that began in October and was expected to continue through early March would instead be completed by Feb. 1. The original plan had been for employees to take eight hours off each month over five months, which would amount to a one-week furlough. Full Story....

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