In a series of financial transactions, Jack Cooper announced on June 29, 2017 that it had successfully reduced the company’s outstanding debt by $300 million which in turn will reduce annual interest by nearly $10 million.
“This is good news–really good news for Teamster-represented workers at Jack Cooper,” said Kevin Moore, Director of the Teamsters Carhaul Division. “Cooper had been facing significant upcoming debt payments that had some customers concerned. With the debt reduction and our contract in place, the company can focus on its operations and customer relations and retention.”
The Teamsters Union has been closely monitoring the transactions, and will continue to do so.