A contract that was necessary for Overland Park, the owner of YRC, to restructure its debt and stay in business has been approved by the Teamsters union by a 2-to-1 margin. The contract maintains the three-weeks of paid vacation, as well as adds a profit sharing plan, a bonus for employees on seasonal layoffs, and cost savings. The contract is an extension of the collective bargaining agreement already in place. The new contract will last through March 2019, which gives the company the certainty necessary to negotiate with its debtors.
See "Teamsters approve YRC?s revised labor contract, shares rise", Reuters, January 26, 2014