Teamsters Local 492
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ABF Will Pay 2019 Profit-Sharing Bonus To Teamster Employees
Feb 03, 2020

ABF Freight to Pay 2019 Profit-Sharing Bonus to Eligible Union Employees

  • Bonus payment for reaching 95.2 percent operating ratio achieved in 2019
  • Payment to all eligible union employees, representing nearly all union employees, is first in company’s history

January 30, 2020 - ABF Freight announced it will pay a profit-sharing bonus to all qualifying union-represented employees in return for the company achieving a 95.2 percent operating ratio in 2019. See Profit Sharing MOU Here

“Returning ABF to historical margins has been a long-term goal, and the bonus payment is something we have hoped to do for some time,” said ABF President Tim Thorne. “Thanks to successful yield initiatives, focused account management and prudent cost management, we reached the required levels to pay the bonus and we thank all of our employees for their hard work and dedication to the company and our customers. This is a proud day for ABF.”

The profit-sharing bonus for employees represented by the International Brotherhood of Teamsters, ABF’s largest bargaining group, will be 1% of qualifying employees’ W-2 earnings as specified in the 2018 ABF National Master Freight Agreement ratified in July 2018. Employees in smaller union groups will receive similar payments. The total number of employees who will receive the bonus is approximately 7400.

This is the first time in ABF’s nearly 100-year history that a profit-sharing bonus will be paid to all eligible union-represented employees in return for hitting specific financial targets. Only a small group is ineligible this year, having been paid last year. Operating ratio refers to the ratio of operating expenses to operating revenue and is generally considered a measure of profitability and efficiency in the trucking industry. According to terms of the collective bargaining agreement with the IBT, the bonus will be paid by check within 60 days of the 2019 calendar year-end.


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2023 ELECTION RESULTS FOR LOCAL UNION OFFICERS

NOVEMBER 13, 2023 TO ALL TEAMSTERS LOCAL UNION 492 MEMBERS 2023 ELECTION RESULTS FOR LOCAL UNION OFFICERS Teamsters Local Union 492 is pleased to announce the results of the election of the Officers for the Local Union for the three-year term commencing January 1, 2024.
Download: 2023_Election_Results_492.pdf

TEAMSTERS HOLD NATIONAL DAY OF ACTION AT CHEDRAUI-OWNED STORES

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Yellow Update

9/15/2023- A grievance has been filed for ALL members at Yellow in New Mexico.  The grievance covers all vacation hours earned and unused and pro rata, vacation earned from seniority date to closing. This grievance was heard at the September session of MSC. The ruling was that all vacation grievances were to be forwarded to the bankruptcy court and would be paid out through that process.

TEAMSTERS AT TFORCE FREIGHT RATIFY NATIONAL AGREEMENT

TEAMSTER LEADERS UNANIMOUSLY ENDORSE TFORCE FREIGHT TENTATIVE AGREEMENT 7/24/2023- Teamsters local leaders unanimously endorsed the new tentative agreement between the Teamsters National Freight Industry Negotiating Committee (TNFINC) and TForce Freight on Monday.

UPS Tentative Agreement Reached

“WE’VE CHANGED THE GAME”: TEAMSTERS WIN HISTORIC UPS CONTRACT Deal Results in Higher Wages, More Jobs, Equal Pay, A/C, MLK Day, Part-Time Rewards 7/25/2023- Today, the Teamsters reached the most historic tentative agreement for workers in the history of UPS, protecting and rewarding more than 340,000 UPS Teamsters nationwide.

Yellow/Teamster Negotiations Update 7/25/2023

As you know, Yellow Corp. determined at a board of directors meeting on July 7, 2023, that its operating companies under the NMFA would not make required health and welfare and pension contributions to six different benefit Funds. Specifically, the Central States Health and Welfare and Pension Funds; the Central Pennsylvania Funds and the Western Conference Funds.
Download: Yellow7252023.pdf


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Teamsters Local 492
4269 Balloon Park Road NE
Albuquerque, New Mexico 87109
  505-344-1925

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