Wage cuts, capacity reductions are among the strategies for the down market

Discussion in 'YRC' started by Cybergal, Dec 8, 2008.

Dec 8, 2008 #1

Cybergal Road Train Member

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Wage cuts, capacity reductions are among the strategies for the down market

12/8/08

As trucking firms report demand declines they are doing whatever it takes to reduce costs, including renegotiating their union wage contracts and reducing overall capacity wherever possible.
Last week the CEO of trucking giant YRC told the Associated Press that its proposed union wage reduction and other planned cost savings to be "more than enough to ride out the economic downturn." The tentative deal that YRC struck with union employees for a 10% wage cut will provide $225-$250 million in savings when combined with non-union employee cuts in January. In exchange for the wage cut, YRC will offer its union employees a 15% stake in the company.
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http://www.purchasing.com/article/CA6620811.html?industryid=48397
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Cybergal, Dec 8, 2008

Cybergal, Dec 8, 2008

#1
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