UPDATE 1-YRC Worldwide says cutting 900 nonunion jobs

2009年 10月 30日 星期五 23:41 BJT

* Says removing 900 nonunion workers

* Says no further cuts seen at this time

* Says YRC is 75 percent of way to cost cut target

By Carey Gillam

OVERLAND PARK, Kan., Oct 30 (Reuters) - Leading U.S. trucker YRC Worldwide Inc (YRCW.O) said on Friday it is cutting about 900 nonunion jobs in what could be the final round of layoffs in the company's broad financial restructuring.

The job cuts will be completed in the fourth quarter and should save the company between $15 million and $20 million, according to company officials.

They come on top of a series of labor reductions and "workforce adjustments" made over the last year as the company wrestles with steep declines in business volumes and lender requirements.

YRC Chairman Bill Zollars said Friday he does not see any further layoffs necessary for the "forseeable future."

"For the time being we think this is right and adequate," he said.

The cuts, which were reported by Reuters last month, come on top of more than 3,700 job reductions over the past year.

Company officials said with the headcount reductions, YRC is 75 percent of the way toward meeting its Jan 1, 2011, target of $200 million in annual run-rate cost reductions.

Overland Park, Kansas-based YRC's financial problems have been tied in part to difficulties with integrating acquisitions, and the company has been fighting to hold onto customers amid tough competition and pressure from the economic downturn. (Reporting by Carey Gillam, editing by Gerald E. McCormick)


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