YRC may counter-sue ABF, considers closing 30+ terminals
According to Dow Jones, YRC Worldwide’s chief executive Bill Zollars said that the company will likely launch a counter-suit in response to ABF Freight’s legal actions against both YRC and the Teamsters union. Sharon Gill reports … ABF Freight System filed a lawsuit against YRC and the Teamsters earlier this month, saying the contract between the transportation company and the union violates the National Master Freight Agreement. The Teamsters called ABF’s lawsuit "frivolous and without merit", and said the union would vigorously defend against the lawsuit and grievance. Meanwhile, YRC Worldwide is considering closing up to 12% of its terminals, a move that would shut down more than thirty small- and medium-sized terminals. Local Unions are evaluating the company’s intended plans to relocate certain drivers and alter current freight handling practices. YRC came close to filing for bankruptcy last year, and YRC Logistics sold its US dedicated contract carriage business to Greatwide Logistics Services for US$34 million in November 2009. For the third quarter ending September 30, 2010, YRC announced a net loss of $62 million, compared with a net loss of $159 million in Q3 2009. Although company CEO Bill Zollars plans to retire at the end of the year, he said he will stay on until YRC’s recovery plan is in place. Quelle: eyefortransport |