Teamsters Union Calls for Senate Investigation into Yellow Corp's Bankruptcy Proceedings
The Teamsters Union has called on the Senate to investigate the bankruptcy proceedings of Yellow Corp. This request follows a special Senate Judiciary Committee hearing on September 19, 2023, addressing corporate manipulation of Chapter 11 bankruptcy. During the hearing, Senator Amy Klobuchar pointed to Yellow's actions, accusing the company of attempting to expedite the liquidation of its assets to evade responsibility for mismanagement, which would negatively impact workers.
The Teamsters are seeking a comprehensive investigation and are urging Senators Dick Durbin and Bernie Sanders to hold hearings before the Senate Committee on the Judiciary and the HELP (Health, Education, Labor, and Pensions) Committee to examine Yellow's bankruptcy. They highlight concerns about alleged corruption and greed within Yellow, including the approval of executive bonuses while neglecting worker healthcare and pension benefits.
The union representing nearly 9,300 workers at Canada’s top two rail companies is signaling a potential work stoppage due to stalled negotiations over working conditions and wage hikes.