TEAMSTERS ISSUE STRIKE NOTICE AFTER YELLOW CORP. FAILS TO MAKE $50 MILLION IN BENEFITS CONTRIBUTIONS

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International Brotherhood of Teamsters

Jul 18, 2023, 12:35 ET

Yellow's Gross Mismanagement Upends Workers' Livelihoods; Strike May Begin July 24

WASHINGTON, July 18, 2023 /PRNewswire/ -- The Central States Board of Trustees voted Monday to suspend health care benefits and cease pension accruals for Yellow workers, after two Yellow operating companies, Holland and Yellow Freight, failed to fulfill their financial obligations. Teamsters are preparing for a possible strike as early as July 24.

Benefit suspensions will go into effect July 23 if the company fails to make the critical payment to the Central States Health and Welfare Fund and the Central States Pension Fund for June 2023.

"Yellow has failed its workers once again and continues to neglect its responsibilities," said Teamsters General President Sean M. O'Brien. "This corporation's gross mismanagement is another affront to the livelihoods and well-being of 22,000 Teamsters nationwide. Following years of worker givebacks, federal loans, and other bailouts, this deadbeat company has only itself to blame for being in this embarrassing position."

Yellow owed Central States $50 million on July 15, a payment it missed and must still make by July 23 to avoid a work stoppage and interruption in benefits for Teamster families.

"Yellow has a responsibility and obligation to workers. Our members should not suffer because of management's incompetence and financial irresponsibility. This is a new low, even for a company as dysfunctional as Yellow," said Teamsters General Secretary-Treasurer Fred Zuckerman. "The Teamsters are working with our local unions, and we will continue to regularly update members as this situation unfolds."

Founded in 1903, the International Brotherhood of Teamsters represents 1.2 million hardworking people in the U.S., Canada, and Puerto Rico. Visit Teamster.org for more information. Follow us on Twitter @Teamsters and "like" us on Facebook at Facebook.com/teamsters.

Contact:
Daniel Moskowitz, (770) 262-4971
[email protected]

SOURCE International Brotherhood of Teamsters