YRC Worldwide: Health and welfare and pension fund contribution delays

18/04/2020

To: All YRCW Local Unions

From: Ernie Soehl, Director, National Freight Division

As you are all aware, we find ourselves in very difficult times as a result of the COVID-19 pandemic. TNFINC has been in constant contact with YRCW and its operating companies (YRC Freight, Holland, New Penn and Reddaway) as we seek to work through the uncertainties caused by the Covid-19 virus. Unfortunately, all of the YRCW companies have experienced a sharp decline in volumes over the past few weeks in light of the closure of many of its customers’ operations and the general economic downturn. We also have a number of members on layoff. Nevertheless, the Company has confirmed that it is paying the contractual wage increase that was due April 1 under the YRCW NMFA.

The company has, however, reached out to all of the various health and welfare and pension funds and asked for a grace period within which to make its payments for the month of March which are due at various times in April as well as perhaps a few additional months going forward. It is our understanding that the Company has NOT sought any contribution relief or freebies from any of the funds. Rather, the company is seeking to work with all of the funds in order to obtain a grace period (i.e. an extension of time) within which to make the required contribution payments.

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