Yellow Corp. Blames Teamsters for Liquidity Crunch
Yellow Corp. accuses Teamsters of causing its financial crisis, leading to benefit payment deferment and potential labor strike threats.
Yellow Corp. blamed the International Brotherhood of Teamsters for its inability to make monthly contributions to the Central States Funds. Yellow sought a payment deferral due to ongoing negotiation with the Teamsters and the quest for additional funding. The company filed a $137 million lawsuit against the union alleging breaches of the collective bargaining agreement. Yellow proposes consolidating terminals, increasing labor efficiency, and lowering cost structure for competitive edge.
While Yellow offered significant wage increases, Teamsters viewed this as a rescue attempt for the struggling freight company. With missed plan contributions and potential labor strikes looming, Yellow seeks meaningful negotiations to overcome the crisis.