Details of the contract have not been released because local unions have not decided whether to endorse it.
Word of a potential agreement reached local unions last week, and they were subsequently directed to not take a strike vote.
ABF and the Teamsters began talks toward a new contract in January, with the carrier demanding a 6.5-percent wage reduction along with cuts in pension and health care benefits, according to the union. The two negotiated until the current contract expired on March 31, passing two contract extensions before finally reaching a deal.
After the second contract extension, ABF released a statement saying it had been negotiating in good faith and needed to stand firm on its contract requests to make up for a reported $250 million in losses over the past three years.
“We have taken a balanced approach to the negotiations and have specifically avoided proposing the meat-axe wage and benefit cuts that our competitors have been forced to adopt,” according to a statement on the ABF Website. “Our goal has been to achieve the bulk of the cost reductions through changes in work rules and flexibility, but there is more to do.” – Jon Ross
Brokerage Compliance Symposium
The day before F3. Every compliance issue you face - fraud exposure, carrier liability, FMCSA rules, cargo theft, insurance gaps - navigated by attorneys and operators defining best practices in a changing industry.
F3 Awards Dinner
The night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
F3: Future of Freight Festival
Industry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The day before F3. Every compliance issue you face - fraud exposure, carrier liability, FMCSA rules, cargo theft, insurance gaps - navigated by attorneys and operators defining best practices in a changing industry.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowThe night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowIndustry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register Now