EXCLUSIVE-UPDATE 1-YRC slashes jobs, cuts 'sizable' -sources

* YRC discloses it cutting jobs

* Sources say cuts sizable and involve many departments

* Job cuts come ahead of Oct. 13 lender deadline

* Shares down 13 percent

OVERLAND PARK, Kan., Sept 25 - Troubled trucking company YRC Worldwide Inc <YRCW.O> is cutting substantial numbers of jobs across many departments, sources inside the company said on Friday.

Officials at YRC, which has been working with lenders and labor to try to stave off collapse, would not disclose how many jobs were being eliminated but said "workforce adjustments" were under way.

"YRC Worldwide is making workforce adjustments across the company in response to economic conditions affecting business volumes and to advance the company's movement to a functional organizational structure. The company is not providing updated employment numbers at this time, since workforce actions are still in process," YRC officials said in a statement.

Two sources inside the company said the cuts were substantial and were widespread across different departments.

The company has already announced cuts of more than 3,700 jobs over the past year.

YRC's shares closed down more than 13 percent at $4.62 on the Nasdaq.

The job cuts come as YRC nears a critical Oct. 13 deadline with its creditors. In August the creditors provided a $950 million revolving credit facility allowed YRC to suspend until that date a requirement that the trucking company maintain liquidity equal to or greater than $100 million at all times.

The company has confounded the market for months, defying rumors of bankruptcy by successfully negotiating millions of dollars in labor concessions and repeated extensions from lenders.

Like the rest of the U.S. trucking industry, Overland Park, Kansas-based YRC, which takes small loads and consolidates them into a single truck, has been hard hit by the recession.

The company has also had difficulty integrating acquisitions, and has been fighting to hold on to customers amid tough competition.

In the second quarter, YRC lost $309 million, or $5.20 per share, down from a net profit of $35.8 million, or 62 cents per share, a year earlier. The third quarter ends on Wednesday of next week. The company has not yet said when it will report those quarterly results.