Welcome to Teamsters Local 17 Website

FROM THE COMMUNCIATIONS DEPARTMENT OF THE I.B.T.

Last fall the company approached the Teamsters about addressing its cost structure. We acted responsibly to that request and agreed to meet to discuss options. The compainy indicated that a 10% wage concession would address those needs.

We asked time and time again if it would be enough to fix the company's problems.

In structuring that 10% wage concession agreement we built in a monitoring mechanism that would enable us to better understand the company's financial position.

In February, the company announced that it restructured the terms and conditions of it's loans with it's banks.

However, shortly thereafter, YRC approached Teamster pension funds about deferring 3 months of payments. (The company and many of those funds have recently negotiated an agreement that provides collateral for those 3 months of deferrals.)

Since May we have been working with pension funds to make sure any actions they take did not violate our collective bargaining agreement or have other adverse consequences on the company.

Also since May, we have been working with independent financial advisors to understand the company's financial needs.

In early June the financial advisors identified the financial need and presented its findings to a subcommittee of the Teamsters National Freight Industry Negotiating Committee (TNFINC).

The week of June 8th, the sub-committee met for a week to review options and develop an outline plan for possible negotiations.

On June 17th that outline was presented to all pension funds that receive YRCW contributions.

On June 18th the outline was presented at the freight 2-person meeting. Every Local Union that has YRCW members attended the meeting. At both meetings the participants unanimously approved the plan.