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OVERLAND PARK, Kan.-Details of a tentative agreement between freight transportation services provider YRC Worldwide Inc. (YRCW) and the International Brotherhood of Teamsters were released last month. The agreement, which focuses on modifying the current labor agreement for YRCW Teamsters employees covered by the National Master Freight Agreement, was reached on November 28.
This agreement would cover about 40,000 employees of YRCW subsidiaries Yellow Transportation, Roadway, USF Holland, and New Penn in various positions, including drivers, dockworkers, and clerical workers among others.
The main details of the proposed agreement include a ten percent reduction on all wages paid, including scheduled increases, and a suspension of cost of living increases. And in exchange for agreeing to a wage reduction, YRCW Teamsters employees would receive a 15 percent ownership stake in the company. YRCW...