UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): May 14, 2019

YRC Worldwide Inc.

(Exact name of registrant as specified in its charter)

10990 Roe Avenue

Overland Park, Kansas 66211

(Address of principal executive office)(Zip Code)

(913) 696-6100

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company  ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐

Securities registered pursuant to Section 12(b) of the Act:

As previously disclosed, on March 21, 2019, YRC Worldwide Inc. (“YRC Worldwide”) operating companies YRC Inc., USF Holland LLC, and New Penn Motor Express LLC (collectively, the “Companies”) and Teamsters National Freight Industry Negotiating Committee, the negotiating arm of the International Brotherhood of Teamsters, on behalf of itself and the Teamster Local Unions representing employees covered by the National Master Freight Agreement, reached a tentative agreement in principle for a new collective bargaining agreement (the “New NMFA”), subject to ratification by the Companies’ union employees (the “Union Employees”). On May 3, 2019, YRC Worldwide was notified that the Union Employees ratified the New NMFA along with 26 of the 27 supplemental agreements to the New NMFA.

On May 14, 2019, YRC Worldwide was notified that the applicable Union Employees have ratified the final supplemental agreement to the New NMFA. The New NMFA and supplemental agreements are now immediately effective, with wage and benefit improvements to be paid retroactively to April 1, 2019. The New NMFA and supplemental agreements expire on March 31, 2024.

The New NMFA provides for wage and benefit improvements for the approximately 24,000 Union Employees, including, among other things, the following:

The New NMFA provides for a number of improvements that we expect will provide operating efficiencies and improved service to customers, including, among others, the following:

Forward-Looking Statements

This Current Report and the attached press release contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The words “will,” “would,” “anticipate,” “expect,” “believe,” “intend” and similar expressions are intended to identify forward-looking statements. Forward-looking statements are inherently uncertain and are subject to significant business, economic, competitive, regulatory and other risks, uncertainties and contingencies, known and unknown, many of which are beyond the Company’s control. It is important to note that the achievement of the operational efficiencies and the improved service to customers we anticipate may be subject to a number of factors, including (among others) those risk factors that are from time to time included in the Company’s reports filed with the SEC, including the Company’s reports on Forms 10-K and 10-Q.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Date: May 15, 2019

Exhibit 99.1

10990 Roe Avenue
Overland Park, KS 66211
Phone 913 696 6108    Fax 913 696 6116
News Release

YRC Worldwide Announces Full Ratification of Five-Year Labor Agreement for Three of Its Companies

Full Approval Secures Wage and Benefits Package and Opportunities for Operational Efficiencies

OVERLAND PARK, Kan.—YRC Worldwide Inc. (NASDAQ: YRCW) (the “Company”) announced the successful conclusion of labor contract negotiations with the full ratification of a five-year labor agreement for three of its operating companies. Employees from the YRCW companies of YRC Freight, Holland, and New Penn—who are represented by the International Brotherhood of Teamsters and covered by a National Master Freight Agreement (NMFA) turned out in record numbers earlier this month to vote for the new master agreement. On May 3, 2019, the national economic vote was overwhelmingly approved along with 26 of 27 local supplements. On May 14, 2019, the final supplemental agreement was approved. The new labor agreement, which covers approximately 24,000 employees, goes into effect immediately, with economic improvements applying retroactively to April 1, 2019 and running through March 31, 2024.

“The ratification of the contract is good for our employees, our shareholders, and our customers. Having a five-year agreement is a very positive event for YRC Worldwide, supporting a more market-competitive wage and benefit package for our employees while providing operational benefits that will allow us to provide reliable and efficient services to our customers,” said Darren Hawkins, YRC Worldwide Chief Executive Officer.

A few of the contract highlights include:

“In addition to creating a unique opportunity for YRCW to make investments in the near-term, the ratified contract also positions the Company to improve our profitability in 2020 and beyond by taking full advantage of the new operational tools provided for in the contract, in addition to the implementation of our ongoing network optimization plan,” Hawkins said.

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“We are pleased with the record voter turnout and overwhelming support of the new agreement by our employees. I want to thank each and every one of our 31,000 employees for their continued hard work and dedication. I am confident that the new operational opportunities approved in this contract plus our ability to continue to attract and retain top-notch employees will solidify a very positive future for YRCW.” Hawkins said.

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Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The words “will,” “would,” “anticipate,” “expect,” “believe,” “intend” and similar expressions are intended to identify forward-looking statements. Forward-looking statements are inherently uncertain and are subject to significant business, economic, competitive, regulatory and other risks, uncertainties and contingencies, known and unknown, many of which are beyond the Company’s control. It is important to note that the achievement of the operational efficiencies and the improved service to customers we anticipate may be subject to a number of factors, including (among others) those risk factors that are from time to time included in the Company’s reports filed with the SEC, including the Company’s reports on Forms 10-K and 10-Q.

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About YRC Worldwide

YRC Worldwide Inc., headquartered in Overland Park, Kan., is the holding company for a portfolio of less-than-truckload (LTL) companies including Holland, New Penn, Reddaway, YRC Freight, and YRC Reimer as well as the logistics company HNRY Logistics. Collectively, YRC Worldwide companies have one of the largest, most comprehensive logistics and LTL networks in North America with local, regional, national and international capabilities. Through their teams of experienced service professionals, YRC Worldwide companies offer industry-leading expertise in flexible supply chain solutions, ensuring customers can ship industrial, commercial and retail goods with confidence.

Please visit our website at www.yrcw.com for more information.

SOURCE: YRC Worldwide

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