Current Report
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) September 9, 2009
YRC Worldwide Inc.
(Exact name of registrant as specified in its charter)
| Delaware | 0-12255 | 48-0948788 | ||
|
(State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
10990 Roe Avenue, Overland Park, Kansas 66211
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code (913) 696-6100
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
| Item 7.01. | Regulation FD Disclosure |
On September 9, 2009, YRC Worldwide Inc. issued a news release to announce that union employees at its regional carrier, New Penn Motor Express, have joined the more than 90 percent of its employees represented by the International Brotherhood of Teamsters in voting “yes” to ratify a previously announced modification to the National Master Freight Agreement. A copy of the news release that contains the announcement is attached hereto as Exhibit 99.1.
| Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits
|
Exhibit
|
Description |
|
| 99.1 | News Release dated September 9, 2009. | |
2
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| YRC WORLDWIDE INC. | ||||
| Date: September 9, 2009 | By: |
/s/ Daniel J. Churay |
||
| Daniel J. Churay | ||||
| Executive Vice President, General Counsel and Secretary | ||||
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EXHIBIT INDEX
|
Exhibit Number |
Description |
|
| 99.1 | News Release dated September 9, 2009. |
4
Exhibit 99.1
|
10990 Roe Avenue Overland Park, KS 66211 Phone 913 696 6100 Fax 913 696 6116
News Release |
|
|
FOR IMMEDIATE RELEASE
YRC Worldwide Provides Update on Ratification of Labor Contract Changes
OVERLAND PARK, Kan., Sept. 9, 2009 — YRC Worldwide Inc. (Nasdaq: YRCW) said today that union employees at its regional carrier, New Penn, have joined the more than 90 percent of its employees represented by the International Brotherhood of Teamsters in voting “yes” to ratify a previously announced modified labor agreement.
“As employee owners and stakeholders, our union workforce has made difficult decisions and demonstrated their commitment to achieving long-term success for YRC Worldwide. Revisions to the contract enable the company to strengthen its financial position,” said Mike Smid, President of YRC Inc. and Chief Operations Officer of YRC Worldwide.
The modified agreement includes a 5 percent incremental wage reduction and an 18-month cessation of union pension fund contributions, which will not require repayment. Related savings from the pension and wage reduction are approximately $45 million per month, and primarily began in August. Savings increase to an estimated $50 million per month in 2010.
The company and the Teamsters are addressing employee concerns in the remaining smaller bargaining units who have yet to ratify the contract changes. This represents a small percentage of the company’s unionized workforce.
YRC Worldwide Inc., a Fortune 500 company and one of the largest transportation service providers in the world, is the holding company for a portfolio of successful brands including YRC, YRC Reimer, YRC Glen Moore, YRC Logistics, New Penn, Holland and Reddaway. YRC Worldwide has the largest, most comprehensive network in North America with local, regional, national and international capabilities. Through its team of experienced service professionals, YRC Worldwide offers industry-leading expertise in heavyweight shipments and flexible supply chain solutions, ensuring customers can ship industrial, commercial and retail goods with confidence. The company is headquartered in Overland Park, Kan.
| Media Contact: | Suzanne Dawson | |
| Linden Alschuler & Kaplan | ||
| 212.329.1420 | ||
| sdawson@lakpr.com | ||
| Investor Contact: | Sheila Taylor | |
| YRC Worldwide Inc. | ||
| 913.696.6108 | ||
| sheila.taylor@yrcw.com | ||
Web site: www.yrcw.com
Follow YRC Worldwide on Twitter: http://twitter.com/yrcworldwide