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The Teamsters union has withdrawn the threat of a strike at Yellow, averting a potential company liquidation. After a pension fund agreed to continue to extend health benefits to unionized workers and give Yellow an additional 30 days to make a missed payment, the union pulled back. This decision follows a federal judge's denial of Yellow's request to block the strike.
Yellow, one of the largest trucking companies in the U.S., is grappling with a heavy debt burden and falling cash reserves. A strike could have sent the 99-year-old company into Chapter 7 liquidation proceedings, affecting its 30,000 employees, including 22,000 union members.
Even if the Teamsters and Yellow come to an agreement, the damage this past week has done to them is irreparable.
Nobody is going to put freight into Yellow's network until they are certain it will come out with a clean delivery. We aren't putting a single pallet in. https://t.co/GCy3gHerVJ
Hi! I'm Adriana and I've been working for FreightCaviar as Head Writer for a little over a year now. Some of my favorite topics to cover are FreightTech, Green Freight, and nearshoring/reshoring.
North Carolina upgrades weigh stations with $5.8M tech boost. New systems include weigh-in-motion and license plate readers for improved safety and efficiency.
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