ABF Freight, an ArcBest company, is pleased to report the new five-year ABF National Master Freight Agreement will be implemented on July 16, 2023, following the ratification this week of the two remaining supplemental agreements.
The implementation of the new collective bargaining agreement will have wage increases retroactive to July 1, 2023 and health and welfare contribution provisions that become effective on August 1, 2023.
The 5-year agreement runs through June 30, 2028. Major economic provisions include:
- Wage increases in each year of the contract, starting with $3.50 per hour for the first year, enabling ABF to recruit and retain a highly tenured and experienced workforce.
- Allows for location-specific wage increases in areas where hiring has been challenging.
- Increased contributions to generous, industry-leading health and retirement plans.
- Profit-sharing bonuses upon ABF Freight’s achievement of annual operating ratio targets.
- Additional sick and holiday paid time off.
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“With full ratification of this new agreement, ArcBest and ABF confidently look forward to serving customers’ logistics needs for years to come,” said Chairman, President and Chief Executive Officer Judy R. McReynolds. “Our team achieved our goal to reach an agreement that recognizes and rewards our Teamster employees for the work they do every day for customers, while also enabling ABF to grow and invest in the business. As we embrace an ever-changing logistics marketplace, we are grateful to our employees for their dedication and commitment to our company’s ongoing success.”
ABF Freight an ArcBest company, President Seth Runser added, “ABF has thrived in a competitive marketplace by going above and beyond to meet our customers’ needs, and with this new contract in place we redouble that focus. I thank our team for their hard work in achieving this industry-leading agreement and our employees’ dedication and patience during this important process.”
SOURCE: PRNewswire