Results on YRC union vote expected Friday
The results of a contract concession vote by shipping company YRC's unionized employees are expected later today. Final ballots were accepted via mail this morning, but the union asked for time to finish the count, because of the unexpectedly high number of votes cast. The agreement, which includes a 5% wage cut, and an 18-month suspension of pension funds, must be approved by a majority of the Teamsters 40,000 active and currently-furloughed members. If it is, it could save YRC up to $800 million dollars in the next year and a half, perhaps the only way the distressed shipping company could stay afloat. The Teamsters union already agreed to a 10% pay cut earlier this year, in the joint effort to keep the company alive.
See "Results on YRC union vote expected Friday", Randy HEaster, Kansas City Star, August 6, 2009