Do you think there may be small/medium/large YRC Layoffs 2020? Any news or rumors?
6 replies (most recent on top)
The Unions tried to STOP the sale of a A+ company like Roadway to a bankrupt company like Yellow Freight,,,,so know your facts before blaming it on the Teamsters. Thank your government and the puppet judges that allowed the sale to go through to begin with. That sale should NEVER have been approved and it was done so in an effort to chip away at the Unions. Ya'll will be serfs to the kingdom soon enough. smfh
Two things to note. Driver turnover in industry is close to 100%. Keeping and retaining drivers is extremely difficult. Pay is a key benefit and bonuses. It does not surprise me that they are unionized and have demanded higher wages, its a thankless job. Second, margins in ltl and long haul are extremely low, so any reduction in revenue (like we are seeing during Covid-19) wreaks havoc on their profitability and abilty to keep employees paid and employed.
company is furloughing employees as of 4/1/2020 25% cut across the board. Why is being kept secret.
Yes no more viable cash flow teamsters contracts once again ruin another company sorry but true
Pay It is not really out of the norm for this industry. Problem seems to be debt and and an inconsistent way in which facilities are ran from one unit to the next. Whatever the policies and work rules are it would be more profitable if everyone was on the same page. Areas in which cost savings can identified
are slow to implement if at all. The network has been tinkered with and the expectation is that when business pick up it will be a beast. Unfortunately the network is unproven when it comes to operating
in an all out mode. In reality it may not be well positioned to handle a large volume of freight due to equipment constraints, yard sizes, shortage of labor including employees unwilling to step up and do the overtime needed to handle it.
Yes yrcw was stupid agreeing to contract they will never be able to keep up with. The days of drivers getting premium pay is not attainable any longer. Check their balance sheet the cash flow statement is a nightmare they will not be able to pay the obligations sorry.