The International Brotherhood of Teamsters is threatening a strike against the American transportation company Yellow Corporation after the organization failed to make pension and healthcare payments during July.

The union said July 17 that a board overseeing the workers’ pension and welfare funds would suspend Teamsters' benefits on July 23 unless Yellow Corp. makes the payments it missed earlier in the month, according to The Wall Street Journal. If the payments aren’t made before then, the union could stage a strike as early as July 24.

The board of trustees for the Central States Southeast and Southwest Areas Health and Welfare Fund, the entity that manages teamsters’ benefits, said that Yellow withheld payments to the fund July 15 and was advised to withhold more payments due on August 15. The missed payments for July and August are expected to be worth more than $50 million.

“Yellow has failed its workers once again and continues to neglect its responsibilities,” said Teamsters president Sean M. O’Brien in a July 18 statement issuing a strike notice. “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.”

Company officials said July 18 that Yellow intends to immediately repay the funds with interest once the organization secures additional financing.