“Ratification of the treaty is good for our employees, shareholders and customers. A five-year contract is a very positive event for YRC Worldwide, supporting a more competitive compensation and benefits package for our employees while providing operational benefits that enable us to provide reliable and efficient services to our customers,” said Darren Hawkins, President and CEO of YRC Worldwide. The five-year collective agreement between the Teamsters union and three units of LTL freighter YRC Worldwide, Inc. (NASDAQ: YRCW) went into effect after workers in western Pennsylvania ratified the latest local additions and drivers, the company and union said today. In addition, the contract stipulates that more smaller panel vans will be operated by union members instead of relying on third-party carriers to deliver freight. “We are pleased with the record participation and overwhelming support of our employees for the new agreement. I want to thank each of our 31,000 employees for their continued hard work and dedication. I am confident that the new operational opportunities approved in this contract, as well as our ability to continue to attract and retain world-class employees, will solidify a very positive future for YRCW,” said Hawkins. OVERLAND PARK, Kansas, May 15, 2019 (GLOBE NEWSWIRE) — YRC Worldwide Inc.
(NASDAQ: YRCW) (the “Company”) announced the successful conclusion of employment contract negotiations with the full ratification of a five-year employment contract for three of its operating companies. . The five-year contract, which is retroactive to April 1, 2019, includes approximately 24,000 employees from YRC Freight`s YRC long-haul unit and holland and New Penn regional units. The contract provides for a total salary increase of 18% from 1 April until the end of 2023, a reinstatement of one-week paid leave and higher health and social contributions. For the first time, Holland will be able to purchase transportation services outside the unionized basin, but only up to 8% of the miles traveled each year. .