Teamsters says Yellow Corp. strike averted as healthcare covered

The International Brotherhood of Teamsters said in a statement last night: “The Central States Health and Welfare Fund agreed Sunday to extend health care benefits for workers at Yellow Corp. operating companies YRC Freight and Holland, under intense pressure from Teamsters General President Sean M. O’Brien and General Secretary-Treasurer Fred Zuckerman. The extension of health care benefits for Teamsters and their families averts a strike at the freight companies, which could have begun on Monday after Yellow failed to make contractually obligated benefit payments of $50 million to Central States on July 15. The agreement by Central States at the urging of the Teamsters gives Yellow 30 days to pay its bills with the understanding the company will do so within the next two weeks.” Shares of Yellow Corp. are up 11% to $1.18 in morning trading.