Teamsters Union calls for Senate investigation of Yellow bankruptcy

By Sarah Lizee

Olympia, Wash., Sept. 19 – The Teamsters Union is calling for the Senate to investigate Yellow Corp.’s bankruptcy case, following a special judiciary committee hearing on corporate manipulation of Chapter 11 bankruptcy held Tuesday, according to a press release.

“The Teamsters demand a comprehensive investigation, calling on Senators Dick Durbin and Bernie Sanders to exclusively hold hearings before the Senate committee on the judiciary and the health, education, labor, and pensions (HELP) committee to look into Yellow's bankruptcy,” the group said in the release.

“More disturbing details of corruption, greed, and graft continue to emerge at Yellow. We call upon Senator Sanders and Senator Durbin to begin hearings,” Teamsters general president Sean M. O'Brien said.

“Yellow approved millions in executive bonuses in June at the same exact time that they were voluntarily choosing not to pay millions in worker health care and pension benefits.

“Workers in this country need real protections against corporations who game the system. We need real reform now that puts workers first in this process.”

The group said the timing of Yellow's bankruptcy filing and the “unusual steps” it has taken while controlling the bankruptcy as a debtor-in-possession warrant scrutiny.

“Yellow is trying to fast track liquidation. Meanwhile, more than 22,000 union workers are out of work after sacrificing more than $5 billion over the past 14 years through wage and benefit concessions, a fact the company would prefer to conceal from the American public and the bankruptcy courts,” Teamsters general secretary-treasurer Fred Zuckerman said.

“We haven't had bankruptcy reform in this country for nearly two decades. We need to take this opportunity to right the wrongs at Yellow and prevent them from happening again.”

Yellow is a provider of regional, national and international shipping services based in Nashville. The company filed bankruptcy on Aug. 6 under Chapter 11 case number 23-11069.

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