The parent of trucking companies, YRC Freight and others, YRC Worldwide, announced Tuesday that the Teamsters Union has set a two man committee meeting date of Dec. 6 for local labor leaders to review and to decide to submit the company's proposal to the membership for a ratification vote.

"This meeting and the subsequent vote, which we believe will be ratified, is another important and positive development in our long-planned refinancing process and the continued implementation of our turnaround plan,” said James Welch, CEO of YRC Worldwide. “We are grateful to our union and non-union employees who have made significant sacrifices to keep our company moving forward and our customers who have shown solid support in this process."

Earlier this month YRC management met with officials of Teamster locals, who have indicated support for the Teamsters National Freight Industry Negotiating Committee to begin discussions about the company's financial future.

YRC is looking to extend the current contract for five-years from ratification and to “achieve cost savings for YRC Freight, Holland, Reddaway and New Penn.” 

The current contract, coving more than 25, 000 YRC employees, is set to expire on March 31, 2015.

According to the website of the dissident group, Teamsters for a Democratic Union, YRC is not proposing any wage cuts, but they are asking for other concessions, including:

• Continued annual wage increases in 2015 and beyond, but with no increase in 2014.

• Overtime pay after 40 hours per week, instead of after 8 hours.

• Change health and welfare language so that a partial week of work will not pay for a full week of health and welfare coverage.

• Work rule changes, including outsourcing some maintenance and use of outside contractors for certain road work.

Reportedly the IBT Freight Division has not agreed to anything yet, and talks will continue.