A federal court approved a 1993 settlement of the violence-marred early 1990s strike by drivers at Greyhound Lines Inc. that helped push the company into bankruptcy.
The U.S. Bankruptcy Court in Brownsville, Texas, approved the settlement, ending litigation involving Greyhound, the Amalgamated Council and Amalgamated Transit Union, and the National Labor Relations Board, Greyhound said Monday.
In April 1993, the parties announced a deal that ended the three-year-long strike by 5,800 drivers and maintenance workers.
The settlement, which was recently approved by the NLRB, also had to be sanctioned by the court that oversaw Greyhound’s bankruptcy reorganization. The bus company emerged from bankruptcy in 1991.
Under the settlement, employees involved in the strike will get $23.6 million in back pay from a trust fund.
Click here to comment on this story »