The International Brotherhood of Teamsters announced earlier today that employees did not approve the Memorandum of Understanding (MOU) extension proposal made by YRC Worldwide Inc. . Company officials are in contact with Teamster leaders to explore options.
"While we are disappointed in the outcome of the vote, we believe that timing of events related to our refinancing did not work in our favor. Many employees had already returned their ballots prior to December 23, the date the company announced it had a refinancing agreement in place. We believe that was information employees needed to make a fully informed decision," said YRC Worldwide CEO James Welch.
"Despite the vote results, it is business as usual as we have approximately 15,000 trucks on the road today serving 250,000 customers. We will keep our customers, employees and stakeholders advised of our efforts," concluded Welch.