Yellow Corp trucker goes ballistic at bosses after firm STOPPED making contributions to workers’ pension fund – as $1.2billion debt leaves it on brink of bankruptcy
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- Yellow Corp said it was suspending health benefits and pension accruals for staff
- Truck drivers union Teamsters said that employees will strike due to the plans
- Distressing footage of one worker finding out about the move has been shared on social media, with a Teamsters strike now imminent due to the plans
- A strike would involve most of the company’s 22,000 Teamster members, the second-largest strike in the United States after the SAG-AFTRA actors’ strike
https://twitter.com/detectclips/status/1682489966373339139?s=20
In the footage the employee shouts and paces back and forth, yelling: ‘Nobody tell me about why am I getting emotional.’
He continues: ‘I’ve been here thirty years. Nobody tell me to calm down. Analyze that s****.’
Teamsters General President Sean M. O’Brien said in a statement: ‘Yellow has failed its workers once again and continues to neglect its responsibilities.
‘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.’
Teamsters General Secretary-Treasurer Fred Zuckerman said: ‘Yellow has a responsibility and obligation to workers.
‘Our members should not suffer because of management’s incompetence and financial irresponsibility.’
He continued: ‘This is a new low, even for a company as dysfunctional as Yellow. The Teamsters are working with our local unions, and we will continue to regularly update members as this situation unfolds.’
Yellow, the third largest carrier in the country, has seen its stock plunge more than 90 percent since the beginning of 2022, has hit out at the union for impeding a scheme to combine its trucking divisions.
The company, currently $1.6billion in the red, filed a $137 million lawsuit against the union last month for ‘unjustifiably blocking’ the plan.
The corporation has also applied for a temporary restraining order to prevent workers from striking.
$1.2billion of the company’s debts are due for repayment this summer, including $700million owed to the federal government.