Update on YRC Negotiations with their Unions
News recently broke that the unions had resoundingly defeated YRC’s proposed contract that would extend their labor agreement into 2019. Here's our take on what this means and what to expect ahead.
News recently broke that the unions had resoundingly defeated YRC’s proposed contract that would extend their labor agreement into 2019.
Upon hearing this news, we contacted YRC and learned that:
- They had opened negotiations with the unions because it was part of a process that they had undertaken to renegotiate debt with their financial institutions.
- The contract they’re talking about doesn’t expire until March 2015 – that’s over 14 months away!
- YRC highlighted the fact the negotiations with the unions are an ongoing process. While they were disappointed with the results, they believe that as they share additional information with their unions, they will get a favorable outcome.
Related: Teamsters Overwhelmingly Reject YRC Contract Extension
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