Yellow Corporation was able to fend off a Teamsters strike that would have begun July 24, after the union rescinded its strike plans July 23.

According to The Wall Street Journal, the new agreement averted a strike against YRC Freight and Holland that would have begun if Yellow had remained delinquent on its contractually obligated $50 million payment to the Central States Health and Welfare Fund that provides benefits for most of the company's workers. The Teamsters Union said the deal, giving the company another 30 days to make a payment, was reached with the understanding that Yellow will make necessary payments before August 6. Prior to the extension, the fund was planning to suspend benefits for Yellow's union members July 23.

“Our members at YRC Freight and Holland cannot work without health care, and the Teamsters worked tirelessly to ensure an immediate strike at Yellow could be averted,” said Teamsters president Sean O’Brien. “These discussions were not easy, but Central States has made meaningful movement under pressure from the union. We are seeking a real resolution, but let this solution today serves as a profound reminder that our members can only endure so many sacrifices. Teamsters at Yellow simply work too hard and have already given so much.”

Of the 30,000 workers employed by Yellow, 22,000 are union members.