2020 Profit-Sharing Bonus to Eligible Teamsters at ABF
For the second year in a row, ABF will pay a profit-sharing bonus to the Teamsters actively working at ABF.
ABF Freight achieved a 95.3% operating ratio* in 2020. Due to the terms negotiated by the Teamsters Union in the 2018-2023 Collective Bargaining Agreement (CBA), ABF must pay a profit-sharing bonus to all qualifying Teamster-represented employees. See Profit Sharing MOU Here. The bonus will be paid to all actively working regular employees who were on the seniority list from January 1, 2020, to December 31, 2020. The profit-sharing bonus is 1% of ABF earned wages from January 1, 2020, to December 31, 2020. The profit-sharing bonus for employees represented by the International Brotherhood of Teamsters is ABF’s largest bargaining group.
*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.
Congratulations to all the very deserving Teamsters at ABF!!! (Click Here to read the 2020 article)