Events Calendar
In This Section
Local families get helping hand
Texas company buys vast gas resources
Google lowers fee for breaking phone contract
Buffett joins with Paulson in predicting big payback
Toyota recalls Prius, hybrids over glitch in brake software
EU's decision to assist Greece gives Dow boost
Google e-mail service to add features for social networking
Most Read Stories
Man robbed at Tallmadge Avenue eatery
Four teens restrain man, take items from his Akron home
Another winter punch heading toward Ohio
Complaints against officer keep coming
Police: Ohio girl dies after fall into snow bank
Cuyahoga Falls residents come home to find burning couch on balcony
Blogs:
First Bell - On Education:
No City of Akron basketball tonight
Pets:
Pet telethon re-airs
The Heldenfiles:
Chipmunks "Squeakquel" on DVD/BD March 30
Akron Zips:
Late surge gives Zips ugly road win
Tribe Matters:
Blogmail response on Hafner
Cleveland Browns:
Stallworth's contract terminated
Balanced Ledger:
QB in Browns future: another mock draft
Kent State Sports:
KSU Notes – February 9
Cleveland Cavaliers:
NBA Power Rankings from Around the Internet
Buckeye Blogging:
Buckeyes grab 18 players on signing day
Varsity Letters:
Garfield at Buchtel basketball
All Da King's Men:
Palin At The Tea Party Convention
Blog of Mass Destruction:
Republican Pre-Conditions
Akron Law Café:
Citizens United v. F.E.C. (Part 4): Kennedy's and O'Connor's Basic Approaches to Constitutional Decisionmaking – Top Down and Bottom Up
Car Chase:
Collector Car Hobby Loses One of the Best—Jim Roll
Let's Talk Real Estate:
Decisions Decisions: Credit Cards or Your Mortgage?
Ohio Travels with Betty:
Loucile is looking for a Lake Erie getaway in June for three kids, ages 1, 3, and 5.
Sound Check:
Talk of the Town – Top entertainment picks for the weekend
HRLite House:
Track HR Research
Akron Gamer:
Makers of 'Castle Crashers' unveil 'BattleBlock Theater'
See Jane Style:
Do IT this week: Layering
By Jim Mackinnon
Beacon Journal business writer
POSTED: 12:42 p.m. EST, Nov 17, 2009
Trucking company YRC Worldwide (NASDAQ: YRCW) plans to close a terminal in Richfield and move the work to two other Northeast Ohio terminals, including its Copley Township facility.
The financially struggling Overland Park, Kan.-based company, parent of the former Roadway in Akron, has told its Teamsters workers that it is seeking what is called a ''change in operations'' in its contract that will lead to the closing of the terminal at 2977 Brecksville Road.
The information is in a 10-page memo sent to the union; YRC executives could not be reached for comment early today.
Teamsters for a Democratic Union, an offshoot group often critical of the main Teamsters union, said the changes at the three terminals will affect about 1,000 workers, including 400 now on layoffs.
According to the union, work will go to the Copley terminal as well as another YRC terminal at 5250 Brecksville Road. Workers will be able to transfer to the new locations and will be able to bump less senior union workers.
According to the company's calculations, 207 workers, including 96 drivers, will transfer to the Copley terminal.
''Based on the extended poor economic conditions, it is imperative that operations within YRC terminals continue to be consolidated as quickly as possible, thus eliminating inefficiency within the network,'' the company said in its letter to Teamsters officials.
The Copley terminal will become the Northeast Ohio distribution center, according to the YRC memo.
YRC is seeking to slash costs as part of its plan to return to profitability.
The company last week announced a $536.8 million debt-exchange offer to help the trucking giant recover its financial footing. The debt-for-equity offering will have bondholders take about 95 percent of the company's common stock. If the offering fails, YRC said it likely will file for bankruptcy.
The company lost $158.7 million, or $2.67 per share, in the third quarter.
Jim Mackinnon can be reached at 330-996-3544 or jmackinnon@thebeaconjournal.com.
Trucking company YRC Worldwide (NASDAQ: YRCW) plans to close a terminal in Richfield and move the work to two other Northeast Ohio terminals, including its Copley Township facility.
The financially struggling Overland Park, Kan.-based company, parent of the former Roadway in Akron, has told its Teamsters workers that it is seeking what is called a ''change in operations'' in its contract that will lead to the closing of the terminal at 2977 Brecksville Road.
The information is in a 10-page memo sent to the union; YRC executives could not be reached for comment early today.
Teamsters for a Democratic Union, an offshoot group often critical of the main Teamsters union, said the changes at the three terminals will affect about 1,000 workers, including 400 now on layoffs.
According to the union, work will go to the Copley terminal as well as another YRC terminal at 5250 Brecksville Road. Workers will be able to transfer to the new locations and will be able to bump less senior union workers.
According to the company's calculations, 207 workers, including 96 drivers, will transfer to the Copley terminal.
''Based on the extended poor economic conditions, it is imperative that operations within YRC terminals continue to be consolidated as quickly as possible, thus eliminating inefficiency within the network,'' the company said in its letter to Teamsters officials.
The Copley terminal will become the Northeast Ohio distribution center, according to the YRC memo.
YRC is seeking to slash costs as part of its plan to return to profitability.
The company last week announced a $536.8 million debt-exchange offer to help the trucking giant recover its financial footing. The debt-for-equity offering will have bondholders take about 95 percent of the company's common stock. If the offering fails, YRC said it likely will file for bankruptcy.
The company lost $158.7 million, or $2.67 per share, in the third quarter.
Jim Mackinnon can be reached at 330-996-3544 or jmackinnon@thebeaconjournal.com.
Comments
Click here to post your comments
akron, oh
Posted 02:01 PM, 11/17/2009
There were many of us that knew Yellow Freight should not expand, as it did. They've ruined themselves, as well as Roadway.
Orrville, Oh
Posted 02:57 PM, 11/17/2009
YRC Stockholders (money marketers); cutting cost of operation; by denying union workers opportunity; to produce amount they need for life; for wages; enabling them to pay; for EVERY product and service they use for life; with money; derived from wages or independent business profit; is defiant of demands; of Natural Law: what Mother Nature, God, or Whatever Power decreed to be the reality of the real world, God, democracy, capitalism, the US Constitution, and free, fair, and affordable commerce.
Demanding every corporation, farmer, business, outsourcer sweatshop, and nonprofit, tax-exempt, organization and Church; markets the cost; in the wholesale and retail price of his or her product and service; Of every workers, consumers, and taxpayers living (including pension and health care); enabling parents to love, nurse, nurture, discipline, protect, and provide for every child (job) they conceive; and fund schools, infrastructure, national security, government services, and etc.; with money derived from wages or independent business profit!
Canton, oh
Posted 03:09 PM, 11/17/2009
@Loren Eberly
Huh ???????
WADSWORTH, OH
Posted 06:06 PM, 11/17/2009
Hitman-he/she/it is off the meds again
akron, oh
Posted 07:50 AM, 11/18/2009
@Billybob: Loren has a website where he rants like this all day. He posts in many papers.
Posted 12:38 PM, 11/18/2009
Is that the old Preston Terminal???
South Carolina, SC
Posted 10:01 PM, 11/18/2009
I knew Copley would survive. Always been a top notch terminal.
Former Rdwy employee
albuquerque, nm
Posted 04:02 PM, 11/27/2009
I am a former Acct Mgr for YRC. Dollar Bill Zollars, Mike "bend over kid" Smid, and John"the Mexican" Garcia have run this company into the pavement. I cant wait to see these three stooges in the unemployment line
