(WBAP/KLIF) — A strike is looming for one of the nation’s 10 largest trucking companies. Financial woes for Yellow Freight, which may lead to a strike of its over 22,000 employees as early as Monday.
According to Brent Taylor with Teamsters Union Local 745, Yellow Freight has violated their collective bargaining agreement when the company failed to make June payments to employee health care and pension benefits, both of which will be suspended on Sunday. Taylor says that if the company doesn’t make contribution payments before the suspension, he expects union members to go on strike Monday. Yellow Freight’s outstanding debt is $1.5 billion.
Local 745 has over 5,000 member workers in North Texas are expected to hit the picket lines if the company doesn’t cover missed insurance and retirement contributions. Taylor says this is not the first time his local 745 members have sacrificed pay and benefits to help the company. 13 years ago Teamsters gave up 15% of their pay and benefits to help the financially-strapped company, which now totals into the billions of dollars.
Taylor blames the company’s financial problems are the result of poor management.
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