The agreement with the Intl. Brotherhood of Teamsters was announced just days after talks were announced, and is expected to be ratified this month. Throughout the industry, shippers and other carriers are taking note. ABF Freight System, another unionized LTL carrier, said they might seek their own package of concessions from the union.
The news from YRC is just the latest indication of the highly volatile state of the transportation sector, with fuel prices fluctuating sharply, carriers like DHL calling it quits in the US, and economic uncertainty the only sure thing on the horizon. In this environment, smart shippers will want to do two things – keep their options open, and work with knowledgeable, independent logistics experts to make sure they are not blindsided by events.