Yellow Freight reaches deal with Teamsters union, averting strike

And thousands of truck drivers d dock workers will not walk off r jobs and join a picket line tomorrow. After all Yellow Freight reached a deal with the Teamsters union tonight to avert a strike. Our political editor Mark Maxwel joins us with what was at stake. We talked to workers here in Saint Louis who were prepared to walk off the job and join the picket line tomorrow morning. Now, that won't happen after Yew Freight executives agreed to pay missed healthcare benefits and pension payments. As trucks rolled off the lot Sunday night, Teamsters organizers prepared to form a picket line outside the third largest trucking company in the country Monday morning. Then word came. The strike was averted. Intense negotiations came down to the wire. A statement from the union said. Yellow Freight has 30 days to come up with $50 million in missed payments into workers, pensions and healthcare benefit, and workers will stay on the jo, officials at Yellow said in a Friday statement. A strike would likely kill the company. Executives blamed the union for blocking its restructuring. Plan to try and modernize and said the company might run out of money next month. Former President Donald Trump granted the company a $700 million bailout in 2020, and the federal government took a 30% stake in the company. A strike that would have involvd 22,000 workers could have thread to snarl the supply chain and disrupt deliveries to clients like Walm, Home Depot and the Department of Veterans Affairs as talks continue in Washington, DC, Teamsters President Sean O'n rallies UPS workers in Atlanta. We've strategized now it's time to pulverize. The Teamsters president says 340 UPS workers could strike as ears next week if the company doesn't improve working conditions in a new contract. We do not get a deal. UPS has chose to strike themselves, and we will . We will withhold our labor July 31st at 12:01 AM. UPS hauls more than $3.8 billion of freight every day. That's roughly 5 to 6% of the entire US GDP. The Teamsters president says a strike that big could send the US into recession, but he's telling President Biden stay out of the negotiations, let them work it out on their o.

Channel: KSDK News

Views: 32,535

Keywords: national, news, supply chain, supply chain management and logistics, yellow frieght, yellow freight deal, teamsters yellow update, teamsters union senate hearing, teamsters union, teamsters

Id: REioNCl69LY

Length: 2min 15sec (135 seconds)

Published: Mon Jul 24 2023