Yellow Defers Payments, Risking Impending Teamsters Strike

July 19, 2023

Image Source: Jim Allen/FreightWaves

Yellow Corp., a truckload carrier, may face a potential strike by its Teamsters workforce as the company has deferred its required contributions for June and July, to preserve liquidity while seeking additional financing. The deferrals, worth approximately $50 million, impact pension and healthcare payments for workers covered by Central States Funds. Despite possessing over $100 million in cash, Yellow’s attempt to defer payments is causing unrest among its workers and may lead to a strike if payments aren't made promptly.

Source: FreightWaves

 I think the chances of an agreement between UPS and the Teamsters is far more likely than one between Yellow and the Teamsters.

The Teamsters need UPS as much as UPS needs the Teamsters. Unfortunately, it looks like the Teamsters have already written Yellow off.— Craig Fuller 🛩🚛🚂⚓️ (@FreightAlley) July 19, 2023 

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