Teamsters chastises YRC for its attempt to buy ABF, says money should go to union members
“Before YRC begins looking for acquisition targets they should first restore our members' wages and pension contributions,” Teamsters General President James Hoffa said.
The Trucker News Services
WASHINGTON — Teamsters General President James P. Hoffa Friday roundly criticized YRC Worldwide for the carrier’s attempt to acquire ABF Freight Systems.
“It is unconscionable that in the middle of the IBT's sensitive negotiations for a new contract for 6,000 ABF Teamsters, and in the context of years of continuing sacrifice by our members at YRC, that YRC would advance a secret effort to acquire ABF's freight division,” Hoffa said. “This interference in the collective bargaining process is an affront to all of the hardworking men and women at both companies.”
YRCW officials Thursday had confirmed the attempt, but said Arkansas Best Corp. President and CEO Judy McReynolds had shared the proposal and discussed it with the company's board of directors, but declined to enter into talks with YRC because the "timing was not right to consider such a transaction."
ABF Freight System is a subsidiary of Arkansas Best Corp.
“Before YRC begins looking for acquisition targets they should first restore our members' wages and pension contributions,” Hoffa said. “We have seen this kind of arrogance from YRC before. We thought they had finally learned the lessons of past management catastrophes. Unfortunately it appears they have not. We want to give credit to ABF for rejecting this gambit, and we now will demand from YRC a full accounting of the calculations and decisions that went into their latest misstep.”
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