Teamsters Plan 22,000-Worker Strike at Trucking Firm Yellow

The union representing 22,000 workers at Yellow Corp. plans to strike as soon as next week after the beleaguered short-haul trucking company failed to make a $50 million payment for employee benefits.

Pension accruals and health-care benefits will be suspended July 23 if Yellow doesn’t make the necessary payment, the International Brotherhood of Teamsters said Tuesday in a statement. The union said it’s preparing for a strike as early as July 24.

Yellow, the third-largest less-than-truckload carrier, has been struggling financially as it seeks to refinance more than $1 billion of debt that matures in 2024. Its stock has ...