YRCW 2023 COLA Brings April Raise to .77¢ Per Hour

Yellow Corp -NMFA Article 33, Sec. 4 - COLA

2/23/2023 - A COLA increase effective April 1, 2023, is calculated as follows. The contract specifies a one (1) cent per hour and one-fourth (0.25) mills per mile increase for every two-tenths (0.2) point increase in the CPI-W Index in excess of 3.5% and at least totaling $0.05. Reaching an Index level of 293.565 in January 2023, the Index increased 7.599 points above the January 2022 Index plus

3.5%, and that translates to the following COLA increases:

$0.37 per hour

0.925 cents per mile

The COLA will be applied as outlined in Article 33. Please note these increases are in addition to the negotiated increases per the 2019–2024 YRC

National Master Freight Agreement which are effective April 1, 2023:

$0.40 per hour

1.00 cents per mile

Essentially, this means on April 1, 2023 hourly wages are scheduled to increase by:

$0.77 per hour

1.925 cents per mile

In addition to the above COLA there was also a PT Settlement Payment to YRC Freight Road Drivers:

As you were previously advised, TNFINC resolved an issue with YRC Freight about YRC Freight’s use of excessive rail and/or purchased transportation in 2022. Specifically, each YRC Freight Road driver who is on the seniority list as of December 31, 2022 and who ran at least 15 trips during 2022 will receive a payment from the Company in the amount of $1,500.00 (subject to applicable taxes and withholdings). Those payments were made on or about January 26, 2023.

Also, attached is a list of eligible road drivers prepared by the Company. Please review the list to make sure that nobody was inadvertently left off. Please contact the freight division if you have any questions.

Again, this issue involves only YRC Freight Road drivers and does not involve Holland, New Penn, or Reddaway. Those other companies either did not use or did not exceed their allowable purchased transportation or rail miles.