Saturday, September 11, 2010

Teamsters See Need For 'Comprehensive Restructuring' At YRC Worldwide

The Teamsters union said late Friday that it will only support new employee concessions at YRC Worldwide Inc. if the effort "supports a comprehensive restructuring" at the struggling trucking company.

"Our goal is to facilitate that restructuring and protect as many Teamster jobs as possible," the International Brotherhood of Teamsters said in a statement to its members.

The union said it will agree to submit recent YRC cost-saving proposals for ratification of its members only "if certain conditions are met." It noted that it has not yet reached a formal agreement with the company but is continuing to negotiate.

The union didn't specify the "certain conditions" it's seeking. But it said the broad effort must support "a comprehensive restructuring that will give the company the best opportunity to not only survive, but thrive, over the long term."

A YRC representative wasn't immediately available for comment.

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