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Trucker YRC in talks with union over labor contract

Thursday, 16 Jan 2014 | 9:37 AM ET

Jan 16 (Reuters) - Struggling trucker YRC Worldwide Inc said it was in talks to revise a labor contract after an earlier proposal was rejected by Teamsters union workers, sending its shares up 11 percent.

Extending the labor contract that covers almost 26,000 workers represented by the International Brotherhood of Teamsters union is key to YRC's plan to restructure its debt.

Last week, sixty-one percent of the workers voted down the company's proposal that would have extended cuts in pay and overtime agreed to six years ago.

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