YRC Worldwide Inc. announced that it has reached a tentative agreement with officials of the International Brotherhood of Teamsters on an extension of its collective bargaining agreement to March 2019. The tentative agreement contains a number of revisions to the company's previous proposal which address concerns raised by the Teamsters leadership and its members. The previous proposal, which was voted without reaching an agreement with the union was not ratified by the company's employees. In contrast, this MOU extension was negotiated with the union. "The outcome of this week's discussions is critical to the future of the company. The MOU extension is something our employees can have confidence is the best - and only remaining - path forward," said James Welch, chief executive officer of YRC Worldwide. Details of the revised proposal will be reviewed by local union officials at a "two-person" meeting of local union officials to be held on Tuesday, January 21, 2014.