YRC Worldwide has plans to close its breakbulk terminal in Richfield, Ohio, in another effort to secure its financial strength, according to published reports

. The company would move its road and dock operations to the former Roadway terminal in Copley, Ohio, according to Teamsters for a Democratic Union, an offshoot organization of the main Teamsters union.

"This change of operations request is in response to the economic conditions we are currently experiencing which reduces the need for duplicate terminals in some areas," the company wrote in a letter to the Teamsters.

The change would affect about 1,000 Teamsters at three Ohio terminals, 400 of which are already laid off, the Teamsters for a Democratic Union said. The company would transfer 207 workers, including 96 drivers to the Copley terminal, according to the Akron Beacon Journal.

The Richfield terminal is one of the largest in YRC's network, with 202 doors.

Last week, the less-than-truckload giant launched an exchange program to unload debt instruments in exchange for the company's stock. Through the transaction, the carrier would trade about $536.8 million in debt for about 95 percent of its equity. The effort, if successful, would put the company in a more solid financial position by improving its capital structure, decreasing its cash interest expense and enhancing its near-term liquidity, YRC said in a statement.