Here is the Teamsters' update about YRCW's restructuring of its employment relationship with CEO James Welch and its CFO Jamie Pierson.
YRCW Worldwide, Inc. (YRCW) announced on February 13th that it has closed on the financing of a new $700 million term loan and a $450 million asset-based loan facility, which was the final piece to an improved capital structure.
Teamsters working for YRC Worldwide Inc. (YRCW) have approved a tentative agreement aimed at protecting more than 30,000 jobs. Workers voted this weekend after rejecting a prior company proposal.
As YRCW members prepare to review and vote on the YRCW tentative agreement, here is a flier with frequently asked questions and the answers to those questions.
For a summary of the YRCW tentative agreement, watch this 21-minute PowerPoint summary that reviews the key points of the agreement.
(WASHINGTON) – The Teamsters Union announced today that it reached a tentative agreement with YRC Worldwide Inc. (YRCW) that, if ratified by the membership, will provide a pathway for substantial debt reduction and refinancing initiatives that will permit the company to protect and preserve more than 30,000 good American jobs.
Since last Thursday we have had ongoing discussions with YRCW around the company’s next steps since the rejection of the proposed MOU.