The Federal Reserve has lowered its projection for economic growth this year, spurring fears that the economy could continue to weaken despite January's interest rate cuts, Wednesday, Feb. 20, 2008. (AP / CBS)
The deadline for a vote to lock in an immediate 10 percent pay cut and other contract modifications for union workers at YRC Worldwide has been extended by one week.
Overland Park-based YRC is one of the nation's largest trucking companies. Ballots were to be counted by tomorrow. But YRC pushed
the deadline to Jan. 6 because of holiday mail volume, harsh winter
weather in parts of the U.S., and a high number of ballot requests.
Earlier this month, the Teamsters union and YRC agreed to a tentative plan for union workers to take an immediate 10 percent pay cut to boost the company's slipping finances. The 40,000 union workers employed by YRC are currently covered under a five-year contract that began in March. The company has a total of about 58,000 employees.