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Yellow Corp has failed to meet health and welfare and pension fund contributions of over $50M, potentially triggering a strike. Source: FreightWaves.
The risk of a strike increases as Yellow Corp fails to meet over $50M in required health and welfare and pension fund contributions for June and July. The company cited avoiding a cash shortage as the reason behind the decision. This delinquency could prompt a work stoppage by the Teamsters union.
Despite these issues, Yellow remains committed to negotiating a new contract with the International Brotherhood of Teamsters. Experts suggest the financial struggles could signal a potential business closure for Yellow Corp.
Source: FreightWaves
The Teamsters Union has learned that two Yellow operating companies, Yellow Freight and Holland, have failed to make their contractually required contributions of $50 million to the Central States Health and Welfare Fund and the Central States Pension Fund for June 2023.
— Teamsters (@Teamsters) July 18, 2023
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