* Says YRC is 75 percent of way to cost cut target
By Carey Gillam
OVERLAND PARK, Kan., Oct 30 (Reuters) - Leading U.S.
trucker YRC Worldwide Inc said on Friday it is cutting about
900 nonunion jobs in what could be the final round of layoffs
in the company's broad financial restructuring.
The job cuts will be completed in the fourth quarter and
should save the company between $15 million and $20 million,
according to company officials.
They come on top of a series of labor reductions and
"workforce adjustments" made over the last year as the company
wrestles with steep declines in business volumes and lender
requirements.
YRC Chairman Bill Zollars said Friday he does not see any
further layoffs necessary for the "forseeable future."
"For the time being we think this is right and adequate,"
he said.
The cuts, which were reported by Reuters last month, come
on top of more than 3,700 job reductions over the past year.
Company officials said with the headcount reductions, YRC
is 75 percent of the way toward meeting its Jan 1, 2011, target
of $200 million in annual run-rate cost reductions.
Overland Park, Kansas-based YRC's financial problems have
been tied in part to difficulties with integrating
acquisitions, and the company has been fighting to hold onto
customers amid tough competition and pressure from the economic
downturn.
(Reporting by Carey Gillam, editing by Gerald E. McCormick)
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