Yellow Corp goes ballistic after bosses stop contributing to trucker workers’ pension fund – as $1.2 billion in debt puts it on the brink of bankruptcy
Yellow Corp says it is suspending health benefits and pension accruals for workers A worker is filmed going ballistic against his bosses Truck drivers union Teamsters says workers will strike over plan
A Yellow Corporation trucker is told the pension he’s built up over 30 years won’t be topped up by the company – as it nears bankruptcy.
The footage, shared on TikTok, shows the worker screaming in anger after learning that his healthcare benefits and pension payments have been stopped.
The worker, who is believed to be working in Florida, said: ‘That’s mother ******* there, I did my job for this company. This is my money you all are playing. F**k this s**t.’
The Central States Board of Trustees in Yellow said it will suspend health benefits and pension collections for workers Monday because of a $1.2 million debt.
Since then, the Truck Drivers Union Teamsters have said they have prepared for a workers’ strike next Monday.
A distraught worker was filmed screaming in a yellow warehouse after learning his pension was at risk due to the company’s financial woes.
The video of the agitated worker takes place at a depot surrounded by colleagues – and is believed to be from earlier this week.
She screamed and paced back and forth, exclaiming: ‘No one will tell me why I’m being emotional.’
He added: ‘I’ve been here for thirty years. No one will tell me to calm down. Analyze those ****.’
Teamsters general president Sean M. O’Brien said in a statement: ‘Yellow has once again failed its employees and continues to neglect its responsibilities.
Photo by Darren Hawkins, CEO of Yellow. His company faces possible bankruptcy
‘This corporation’s gross mismanagement is yet another affront to the livelihood and well-being of 22,000 Teamsters nationwide.
‘After years of layoffs, 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 incompetence and fiscal 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 update members regularly as this situation unfolds.’
Yellow currently has $1.6 billion in debt, with $1.2 billion due this summer, including $700 million from the federal government.
A spokesman said: ‘The company intends to repay the funds with interest immediately after securing additional financing and has asked the funds to negotiate acceptable terms.’
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