YRC In More Trouble

Yellow announced they are skipping their health and pension payments for next two months. Effective Saturday half of YRCs workforce will have no insurance unless they want to pay $470 out of pocket until the 29th and then $507 after that.

The unions that are affected authorized a work stoppage strike on Monday.

If YRC doesn't make the payment which they have the cash, they owe 50 mil and supposedly have 100 mil on hand, I think this will be the end. YRC drivers already make significantly less than most other LTL companies, their only advantage was their Yellow great benefits. Without that alot of their employees don't see any reason to stick around.

Plus they have already lost a bunch of customers, this impending work stoppage will only add to the list.

The fat lady is walking onto the stage I'm afraid

YRC to skip benefits payments

It's weird because it's only the central states, which is the bloodline of the whole operation. North East is paid up until September 30, 2023 and I'm not sure about the west coast. Central states participants have the option to continue their coverage out of pocket.

Got called off today so used that time to get my physical done. When I took paperwork to the terminal I ask OM about Yellow. He said he thinks we will pickup a bunch of freight. Especially, from the companies that split their shipments between YRC and OD.

I hope he is correct, he says they've had emails and seemed pretty certain we will get something if they do walk off Monday.

Got called off today so used that time to get my physical done. When I took paperwork to the terminal I ask OM about Yellow. He said he thinks we will pickup a bunch of freight. Especially, from the companies that split their shipments between YRC and OD.

I hope he is correct, he says they've had emails and seemed pretty certain we will get something if they do walk off Monday.

Any additional freight if UPS walks off, too?

UPS going on strike will likely benefit FedEx. They'll rent penskes and send out freight employees to handle the overflow with pick ups and deliveries and use linehaul drivers to move trailers between facilities.

This sounds like a planned event to force the unions into striking so that Yellow can shut down and avoid the WARN Act violation from mass layoffs.

The beginning of the end??

https://www.freightwaves.com/news/yellow-loses-attempt-to-stop-strike

I have a feeling the government will bail them out again since it involves unions.

I have a feeling the government will bail them out again since it involves unions.

It's a little deeper than that. They need to change job classifications to close buildings and sell the real estate. O'Brien refuses to negotiate because they can't bring anything to the table and yellow is suing the IBT.

In order to get bailed out, they would need 1.5B to cover their debt plus the health and pension contributions.

Yellow has already asked the government to force O'Brien to the table and they government has refused to get involved.