ArcBest fully ratifies new five-year Teamsters labor agreement with wage increases and profit-sharing bonus

ARCBEST CORP /DE/

Agreement covers ~82% of Asset-Based segment employees; implemented July 16, 2023, runs through June 30, 2028.
First-year wage increase of $3.50/hour or $0.0875/mile; subsequent years $0.75/hour or $0.01875/mile.
Profit-sharing bonus triggers when ABF annual operating ratio is 93.0% or below.
Location-specific wage increases for competitive hiring areas; additional sick and holiday PTO.
Health/welfare and pension contribution increases effective August 1, 2023.

item 1.01 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

ARCBEST CORP /DE/ entered into New Labor Agreement with International Brotherhood of Teamsters (effective 2023-07-07).

Action: entry
Counterparty: International Brotherhood of Teamsters
Effective: 2023-07-07

Exact text from the filing

On July 7, 2023, ArcBest Corporation (the “Company”) announced that, following the ratification of two remaining supplemental agreements, the International Brotherhood of Teamsters (the “IBT”) has ratified a new five-year collective bargaining agreement (the “New Labor Agreement”) among the IBT and ABF Freight System, Inc. (“ABF Freight”), a subsidiary of the Company.

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ARCBEST CORP /DE/ filing history →

Source: SEC EDGAR

accession 0001558370-23-011774

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