(WASHINGTON) – Teamsters employed at ABF Freight System will receive a 1 percent profit-sharing bonus—negotiated by the union—after the company reported fourth-quarter results today.
Under the Teamsters 2018-2023 ABF National Master Freight Agreement, if ABF Freight achieves an annual operating ratio of 96.0 or below for any full calendar year, each Teamster-represented employee will receive a bonus based on their earnings. ABF Freight reported a 95.2 percent operating ratio in 2019, which resulted in a 1 percent bonus.
For example, if a member earned $75,000 in 2019, he will receive a bonus of $750.
“Our members at ABF Freight work hard every day to make the company successful, and we are pleased that they will share in the company’s financial success with this bonus,” Teamsters General President Jim Hoffa said.
“Our National Negotiating Committee worked hard to negotiate a strong contract for our members, including this bonus, and we are very excited that our members will be rewarded for the company’s success,” said Ernie Soehl, Director of the Teamsters National Freight Division. “This is the first time our ABF members have received the bonus.”
Under the contract language, ABF Teamsters should receive their checks by the end of February 2020, Soehl said.