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  1. #1
    Resistance is futile.

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    Default CEO says pay and cost cuts will keep YRC going

    AP
    CEO says pay and cost cuts will keep YRC going
    Thursday December 4, 10:50 am ET
    By Samantha Bomkamp, AP Transportation Writer
    YRC Worldwide CEO says pay cut, cost cuts will be 'more than enough to ride out the downturn'


    NEW YORK (AP) -- The chief executive of the country's largest trucking company by revenue said Thursday he expects a proposed union wage reduction and other planned cost savings to be "more than enough to ride out the economic downturn."
    In an interview with the Associated Press, YRC Worldwide Inc. President and Chief Executive Bill Zollars said the $225 million to $250 million savings from a planned wage reduction, combined with another $200 million in savings from an ongoing integration of YRC's Yellow and Roadway units, and expected concessions by nonunion employees, will be enough to keep the company from running out of cash or violating debt obligations.

    CEO says pay and cost cuts will keep YRC going: Financial News - Yahoo! Finance

  2. #2
    Getting In The Groove Now.

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    Default Re: CEO says pay and cost cuts will keep YRC going

    Is there wording in this proposal to make adjustment after the merger? Why 4 years, we should start getting traction by June/July 09

  3. #3
    I call it like I see it!

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    Default Re: CEO says pay and cost cuts will keep YRC going

    Quote Originally Posted by teamster2 View Post
    Is there wording in this proposal to make adjustment after the merger? Why 4 years, we should start getting traction by June/July 09



    There are no adjustments for the life of this contract.

    The so called experts are saying it will probably take almost 4 years for the economy to get bake on track!

    Obama has his work cut out for him for sure.

    Mark

 

 

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