YRC Worldwide

YRC Worldwide

YRC Worldwide is an American transportation company that offers shipping of industrial, commercial, and retail goods. Founded in 1924 with headquarters in Overland Park, Kansas, the company reported 2013 revenue of $4.86 billion, up 0.3 percent year-over-year. The company also recorded a net loss of $83.6, down from the previous year’s net loss of $136.5 million.

YRC Worldwide and its subsidiaries — YRC Freight, YRC Reimer,Reddaway, Holland and New Pennemploy 32,000 individuals worldwide and serve over 200,000 customers, delivering approximately 22 million shipments annually. The transportation company specializes in heavyweight shipments and supply chain solutions through utilizing a fleet of approximately 8,500 tractors and 33,000 trailers.

2013 was the seventh straight year of net losses for YRC Worldwide. Combined, the less-than-truckload operator’s annual losses since 2007 total $3.1 billion. However, YRC Worldwide also reported its second consecutive annual operating profit — $28.4 million — following a $24.1 million operating profit in 2012.

Weekly wrap-up: Mega-alliances, LA-LB issues and trucking growth
20 Sep 2014
Issues at the Los Angeles-Long Beach were on JOC.com readers’ minds this week, along with mega-alliances and growth in the trucking industry.
17 Jan 2014
The Teamsters union and YRC Worldwide reached a tentative contract agreement Friday that must be reviewed by local union leaders before being put to a vote.
17 Jan 2014
The International Brotherhood of Teamsters wants YRC Worldwide to offer “meaningful improvements” in any contract proposal that replaces the one defeated by rank-and-file members last week.
YRC Freight truck
16 Jan 2014
YRC Worldwide said it will revise its failed contract proposal, rather than put the proposal to a second vote. The company is in discussions with Teamsters union leaders.
14 Jan 2014
YRC Worldwide CEO James Welch urged employees “to stay focused on providing the best possible customer service” as the company works “diligently to explore all options available” after YRC Teamsters rejected the company’s contract proposal.
UPS Freight
13 Jan 2014
UPS Freight Teamsters approved a new five-year contract last weekend that raises wages but gives the LTL carrier some flexibility to subcontract line-haul work.
YRC New Penn truck
12 Jan 2014
If it hopes to survive as a company, YRC Worldwide needs to act quickly after Teamsters employees rejected extended wage and benefit concessions the trucking operator’s lenders made a prerequisite for refinancing $1.36 billion in debt.
10 Jan 2014
YRC Teamsters decisively rejected proposed concessions, casting the company's ability to refinance $1.4 billion in debt before it comes due into doubt.
07 Jan 2014
YRC Worldwide and creditors led by Credit Suisse reached an agreement to refinance $1.15 billion in long-term debt due in 2014 and 2015, if the trucking giant's Teamsters employees agree to extend wage and benefit cuts.
YRC Freight truck
02 Jan 2014
The deadline is drawing near for a Teamster vote that could decide the fate of $4.9 billion trucking operator YRC Worldwide by deciding whether to extend wage and benefit cuts an additional four years through 2019.
YRC Freight trucks
10 Dec 2013
James Welch has his work cut out for him. Over the next month, the CEO of YRC Worldwide and president of YRC Freight must convince 26,000 Teamsters to extend wage and benefits cuts they agreed to in 2010 another four years. Welch also needs to get them onboard with new concessions, including greater use of subcontractors and utility workers.
10 Dec 2013
YRC Worldwide is seeking more than an extension of current concessions in its proposal to Teamster employees.