YRC Worldwide subsidiary, YRC Regional Transportation, has announced its intention to shut down eleven USF Holland service centres by end-March.
According to YRC's 8-K filing, Holland will serve the areas of Baltimore (Maryland), Albany and Syracuse (New York) and Allentown, Bedford, DuBois, Harrisburg, Philadelphia and Wilkes-Barre (Pennsylvania) through a partnership with New Penn. Operations at the nine Holland service centres in these markets will be discontinued.
Holland will also serve the areas of Richmond (Virginia) and Wichita (Kansas) through a partnership with YRC, and will discontinue operations at the Holland service centres in these two markets.
These actions are expected to result in a $25 million - $30 million annual increase in operating income for YRC Regional Transportation.
The shutdowns are expected to cost the company between $8 million - $10 million, primarily in employee severance pay, lease terminations and other facilities costs.
Consequent to the integration of its Yellow and Roadway networks, YRC expects that by end-2009, it will have reduced the total number of facilities from 521 to 430 and its workforce from 37,000 to 24,000.
Significant reductions occurred around the March 1st cutover, including almost 2,000 employees and 70 facilities. Additional reductions are expected throughout the second and third quarters of this year.
According to YRC's 8-K filing, Holland will serve the areas of Baltimore (Maryland), Albany and Syracuse (New York) and Allentown, Bedford, DuBois, Harrisburg, Philadelphia and Wilkes-Barre (Pennsylvania) through a partnership with New Penn. Operations at the nine Holland service centres in these markets will be discontinued.
Holland will also serve the areas of Richmond (Virginia) and Wichita (Kansas) through a partnership with YRC, and will discontinue operations at the Holland service centres in these two markets.
These actions are expected to result in a $25 million - $30 million annual increase in operating income for YRC Regional Transportation.
The shutdowns are expected to cost the company between $8 million - $10 million, primarily in employee severance pay, lease terminations and other facilities costs.
Consequent to the integration of its Yellow and Roadway networks, YRC expects that by end-2009, it will have reduced the total number of facilities from 521 to 430 and its workforce from 37,000 to 24,000.
Significant reductions occurred around the March 1st cutover, including almost 2,000 employees and 70 facilities. Additional reductions are expected throughout the second and third quarters of this year.