Teamsters reach tentative deal with YRC Worldwide

Fri Jan 17, 2014 5:38pm EST

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Jan 17 (Reuters) - The Teamsters union said it has reached a tentative agreement with trucking company YRC Worldwide Inc for a new labor contract that sets the stage for the struggling company to push ahead with a refinancing plan.

YRC shares rose 10 percent in extended trading after closing at $15.82 on the Nasdaq.

The deal, which would need to be ratified by union members, would save about 30,000 jobs at the company, the International Brotherhood of Teamsters said in a statement.