News

Profit Sharing at ABF

Teamsters employed at ABF Freight System received a 1-percent profit-sharing bonus—negotiated by the union—after the company reported fourth-quarter 2019 results in late January.

“This bonus was a great surprise,” said Lori Limone, a customer-service representative at ABF and member of Local 701 in North Brunswick, N.J. “Freight Division Director Ernie Soehl and the negotiating committee did a great job of writing the bonus into the contract.”

Limone, a 15-year ABF employee, said she received a bonus of more than $600 before taxes.

Under the Teamsters 2018-2023 ABF National Master Freight Agreement, if ABF Freight achieves an annual operating ratio of 96.0 or below for any full calendar year, each Teamster-represented employee will receive a bonus based on their earnings. ABF Freight reported a 95.2-percent operating ratio in 2019, which resulted in a 1-percent bonus. For example, if a member earned $70,000 in 2019, the member received a bonus of $700.

“Our members at ABF Freight work hard every day to make the company successful and we are pleased that they shared in the company’s financial success with this bonus,” said Jim Hoffa, Teamsters General President.

“Our National Negotiating Committee worked hard to negotiate a strong contract for our members, including this bonus, and we are very excited that our members were rewarded for the company’s success,” Soehl said. “This is the first time our ABF members have received the bonus.”