Yellow Corporation Announces That the International Brotherhood of Teamsters Breach of the Collective Bargaining Agreement Caused Yellow’s Inability to Make Its Monthly Contribution to Central States Funds
In June, Yellow wrote to the funds, requesting a short-term deferral of its obligation to pay contributions for two months, July and August, with interest. This request is not without precedent. Regrettably, the
Even more regrettably,
To keep up with the times and customers’ needs, the Company must implement its well-publicized business modernization plan known as “One Yellow,” yet Teamsters’ leadership has rejected all proposed changes of operations and all proposed interim agreements, freezing the company’s business plan for nine months. This has cost Yellow in excess of
Ever since Teamsters’ leadership made its request that Yellow open its contract early, Yellow has tried to meet to negotiate a contract that would provide wage increases for its
In short, Teamsters’ leadership’s obstruction of One Yellow directly caused Yellow’s liquidity crisis and Yellow’s need to implement cash-conservation measures, including its benefit funding deferral request.
For nine months, Yellow has been ready, willing, and able to meet with the
About Yellow Corporation
Yellow operates one of the largest, most comprehensive logistics and less-than-truckload (LTL) networks in North America, providing customers with regional, national, and international shipping services throughout. Backed by a team of nearly 30,000 transportation professionals, Yellow’s flexible supply chain solutions and best-in-class expertise ensure the safe, timely delivery of industrial, commercial, and retail goods for customers of all sizes. Yellow’s principal office is in Nashville, Tenn., and is the holding company for a portfolio of LTL brands including
To learn more about Yellow and our services, visit myyellow.com.
|Investor Contact:||Tony Carreño|
PDFs accompanying this announcement are available at
Source: Yellow Corporation