YELLOW/ROADWAY CORP (YRC) SEEKS TEAMSTER RELIEF

MILE MARKER # 47

YRC Worldwide Inc. management has been seeking economic relief in the National Master Freight Agreement for several weeks. Following the recent downgrading profits debt rating by both Standard and Poor’s and Moody’s Investors Service and it's impact on the company’s ability to maintain a line of credit, the Teamsters General Executive Board today unanimously agreed to permit representatives from the Teamsters National Freight Industry Negotiating Committee to enter into discussions with YRC immediately to determine how to best preserve Teamster's jobs and protect benefits.

DHL JOB LOSSES

MILE MARKER #46

The struggling economy creates havoc on more U.S jobs. Now that the gas prices are somewhat affordable, nobody has a job to drive to anymore. What about the American worker? Can we get a bail out over here?

Struggling shipper DHL said Monday that it would close its 300-employee West Coast hub in Riverside County as it pulls out of the U.S. domestic shipping business, eliminating 9,500 jobs nationwide and closing most of its DHL Express service centers.Deutsche Post, the Bonn, Germany-based parent of DHL, blamed the move on heavy competition from United Parcel Service Inc. and FedEx Corp. as well as severe financial losses stemming from the weak U.S. economy. It follows 5,400 U.S. job cuts the company had made earlier this year and will leave DHL with 3,000 to 4,000 workers in its U.S. express business.

YELLOW / ROADWAY MERGER - JOB LOSSES

MILE MARKER # 45

YRC Faces Major Job Cuts. YRC Worldwide estimated 3,750 jobs could be cut from its Yellow Transportation and Roadway subsidiaries as the company works to merge operations.
The cuts would represent 15 percent of a 25,000 employee base at the two long-haul carriers. "That's pretty close," said YRC Chairman and CEO William D. Zollars.

The cuts would also represent the latest round of layoffs company-wide over the last year as the nation's largest trucking company deals with weak volume and competitive pricing in the LTL market. YRC reported a 10 percent drop in profits on a 3.3 percent decrease in revenue during the third quarter.

YRC previously estimated combining Yellow and Roadway would eventually eliminate 200 of approximately 650 terminals in the two networks.

A spokesman for the Teamsters union, which represents the hourly workers that would be affected by the latest round of layoffs, declined to comment until after a Yellow-Roadway integration meeting with management in early November.