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Transportation

Mar 25, 2019, 13:56 PM by Weekly Market Report
The U.S. trucking industry has apparently made some progress on labor negotiations. The Wall Street Journal reports that “Labor peace is settling over the U.S. trucking industry.
YRC Worldwide Inc. and the Teamsters union reached a tentative deal on a new contract covering thousands of workers, WSJ Logistics Report’s Jennifer Smith writes, settling their high-stakes bargaining a little more than a week before their current agreement was due to expire. The pact removes a cloud hanging over one of the biggest truckers in the U.S. and puts YRC in position to extend a turnaround effort after several years of financial struggles. Neither side would release details of the agreement but said the current contract was extended into May to allow time to work out details and take ratification votes at national carrier YRC Freight and the company’s regional units. The new deal comes after agreements last year between the Teamsters and YRC unionized less-than-truckload rivals UPS Freight and ABF Freight.”

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