Yellow Corp trucker goes ballistic at bosses after firm STOPPED making contributions to workers’ pension fund

• Yellow Corp said it was suspending health benefits and pension accruals for staff
• One worker was filmed going ballistic with his boss after discovering the state of affairs
• Truck drivers union Teamsters said that employees will strike due to the plans

This is the distressing moment a Yellow Corp trucker is told the pension he has built up over 30 years won’t be topped up by the company – as it nears bankruptcy.

Footage shared on TikTok shows the worker angrily shouting after learning his health care benefits and pension payments had ceased.

The worker, who is believed to be operating in Florida, says: ‘It’s the motherf******s up there, I worked my a** for this company. This is my money y’all are playing with. F*** this s***.’

The Central States Board of Trustees at Yellow said they would be suspending health benefits and pension accruals for workers as the company struggles to refinance $1.2 billion debts.

The Teamsters union, representing 22,000 truck drivers, are preparing to strike as early as Monday. 

The video, believed to be from earlier this week, shows furious workers in a depot after hearing that the company has failed to make a $50 million payment for employee benefits. 

Pension accruals and employee healthcare is also set to be suspended on July 23.  

In the footage the employee shouts and paces back and forth, yelling: ‘Nobody tell me about why am I getting emotional.’

He continues: ‘I’ve been here thirty years. Nobody tell me to calm down. Analyze that s****.’

Teamsters General President Sean M. O’Brien said in a statement: ‘Yellow has failed its workers once again and continues to neglect its responsibilities.

‘This corporation’s gross mismanagement is another affront to the livelihoods and well-being of 22,000 Teamsters nationwide.

‘Following years of worker givebacks, 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’s incompetence and financial 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 regularly update members as this situation unfolds.’

Yellow, the third largest carrier in the country, has seen its stock plunge more than 90 percent since the beginning of 2022, has hit out at the union for impeding a scheme to combine its trucking divisions.

The company, currently $1.6billion in the red, filed a $137 million lawsuit against the union last month for ‘unjustifiably blocking’ the plan. 

The corporation has also applied for a temporary restraining order to prevent workers from striking. 

$1.2billion of the company’s debts are due for repayment this summer, including $700million owed to the federal government. 

A spokesman told DailyMail.com: ‘The company intends to repay the funds with interest immediately upon securing additional financing and has asked the funds to discuss acceptable terms.’

Yellow has flirted with bankruptcy on four other occasions, before being bailed out by lenders, the Teamsters union, the federal government or a collection of all three. 

The ongoing saga has meant that some employees don’t believe the company’s plans are credible.

‘It’s like crying wolf at this point,’ Brian Atchely, a mechanic for the company, told FreightWaves.

Yellow have told workers that a strike now may tip the company into a Chapter 7 liquidation bankruptcy proceeding. 

Other workers, such as Paul Duquette, are more resigned to things ending badly. ‘I don’t see things happening in a good light right now,’ Duquette said. ‘It’s sad.’

‘I won’t even complain about the pay, but the health insurance — I can’t work here without that,’ Duquette added.

The driver, who previously worked for a company that closed warned that ‘if there is a strike, the company is likely done. If people pull their freight, we’re going to be in big trouble.’  

Indeed shipping customers are rushing to rival operators to avoid any disruption in their own businesses, the Wall Street Journal reported.

Among the freight brokers diverting their business is Uber’s freight division.

‘We are really hoping they can resolve this and if they do we will bring [freight] back,’ said Lior Ron, CEO of Uber’s freight unit. 

‘Until that point we need to do what’s in the best interest we think of our shippers and protect against any future disruptions’ he explained.