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☆ Auto workers union strike looms with less than two weeks to deadline
▼ + stars: | 2023-09-06 | by ( Chris Isidore | ) edition.cnn.com time to read: +6 min

In contrast, when UPS was faced with a possible August 1 strike, the company and the Teamsters union both repeatedly said they were close to a deal. Those two sides eventually averted a strike with a deal overwhelmingly approved by the membership. No predictions a deal is closeThe current contracts between the United Auto Workers union and the three automakers all expire at 11:59 pm on September 14, raising the possibility of one or more strike on September 15. The move had relatively limited legal significance since the National Labor Relations Board won’t rule on it before the September 15 strike deadline. A summer of strikesDespite the deal that averted a strike at UPS, this has been a summer of strikes.

Persons: Joe Biden, I’m, ” Biden, Spokespeople, Stellantis –, Shawn Fain, “, ” Fain, ”, Gerald Johnson, Fain, Biden, he’s, hasn’t, Wheaton, ’, –, Betsy Klein Organizations: New, New York CNN, Labor, –, Motors, Ford, CNN, UPS, Teamsters, United Auto Workers, UAW, Jeep, Dodge, Chrysler, National Labor Relations Board, GM, ”, Guild of America, SAG, Cornell University, Cornell University’s Industrial, Labor Relations Locations: New York, Philadelphia, Buffalo, Wheaton

Discovery boss David Zaslav called for Hollywood to work together to end the writers and actors strikes, which have crippled Hollywood and which WBD this week said could cost the company as much as $500 million this year. “We really have to focus as an industry, and we are, on trying to get this resolved in a way that’s really fair,” Zaslav told the Goldman Sachs Communacopia + Technology Conference on Wednesday. As soon as the strikes are resolved, he said, “everybody is ready to get back to work, us in particular.”Warner Bros. SAG-AFTRA, which represents about 160,000 actors, joined the writers on strike on July 14. We need to do everything we can to get people back to work,” Zaslav said.

Persons: David Zaslav, “, ” Zaslav, Goldman Sachs, Warner, Mario Anzuoni, Reuters “, Shawn Fain, doesn’t Organizations: CNN, Warner Bros, Hollywood, Technology, The, Guild of America, SAG, Writers Guild of America, Netflix, Reuters, “, ” Unions, Teamsters, UPS, United Auto Workers, GM, Ford, UAW Locations: Hollywood, Los Angeles , California, U.S

☆ US unions have flexed their muscle this past year. Are they winning?
▼ + stars: | 2023-09-04 | by ( Chris Isidore | ) edition.cnn.com time to read: +7 min

New York CNN —Since last year’s Labor Day, US unions have flexed their muscle in a way not seen in decades. When including those smaller strikes, the total number of strikes in the past year increased to nearly 400. The United Mine Workers union never reached a deal on a new contract. The public also sees unions having more power than in the past, and they approve of that, according to the poll. More major strikes loomA number of major labor disputes are still looming.

Persons: They’ve, “ It’s, ”, Wheaton, “ You’ve, it’s, they’re, Biden, AFTRA Organizations: New, New York CNN, Labor, Cornell University’s Industrial, Labor Relations, Teamsters, UPS, Cornell University, Unions, Warrior, United Mine Workers, Congress, SAG, Writers Guild, Observers, Gallup, “ Labor, United Auto Workers, —, Motors, Ford, Jeep, Dodge, Chrysler, GM, Kaiser Permanente Locations: New York, Buffalo , New York, Los Angeles, New York City, Alabama

☆ A 57-year-old UPS driver in Texas died after collapsing in the heat while making deliveries
▼ + stars: | 2023-08-31 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +5 min

A 57-year-old UPS driver died after collapsing while making deliveries in the Texas heat last week. UPS drivers' heat-related injuries and deaths in recent years have highlighted the dangers of the job. In their newly ratified contract, UPS workers won AC installation in new vehicles starting next year. AdvertisementAdvertisementA 57-year-old UPS driver in Texas has died after collapsing while making deliveries in the heat last week. Following months of negotiations with Teamsters, UPS announced in June that it would install air conditioning in new trucks starting next year.

Persons: Christopher Begley, Begley, Dave Reeves, Tony Rufus, Esteban Chavez Jr, Chris Begley Organizations: Weather, UPS, WFAA, Teamsters, CBS News, Teamster, FedEx Locations: Texas, Farmersville , Texas, Farmersville, CBS News Texas, North Central Texas, Memphis, Pasadena , California, Scottsdale , Arizona

Members of the United Auto Workers union hold a rally and practice picket near a Stellantis plant in Detroit, Aug. 23, 2023. Gallup reports 71% of Americans approved of labor unions in 2022 — the highest since 1965. United Airlines struck a preliminary agreement with its pilots union last month for up to 40% raises over four years. Casey Murray, president of the Southwest Airlines Pilots Association, said frequent reassignments can wear pilots down, just as they would passengers. "They need that predictability," he said, adding that the company has made some progress in talks with the pilots' union in recent weeks.

Persons: Michael Wayland, Robert Bruno, Mario Tama, Daniel, Chris, Wells, Shawn Fain, CNBC It's, Melissa Atkins, hadn't, Johnnie Kallas, Cornell's, Casey Murray, UIUC's Bruno, it's Organizations: United Auto Workers, CNBC, UPS, Workers, Boeing, Spirit, Guild of America, Labor, University of Illinois, Striking, Paramount Studios, Getty, Cornell University School of Industrial and Labor Relations, Screen, – American Federation of Television, Radio Artists, Writers Guild of America, U.S . Bureau of Labor Statistics, Gallup, General Motors, Ford Motor, UAW, Deere, CNH, Detroit, Teamsters Union, Delta Air Lines, American Airlines, United Airlines, Netflix, Warner Bros ., WGA, SAG, Hollywood, Southwest Airlines, Southwest Airlines Pilots Association, U.S, Teamsters Locations: Detroit, Amazon, University of Illinois Urbana, Champaign, Los Angeles, Hollywood

☆ UPS workers approve massive new labor deal with big raises
▼ + stars: | 2023-08-22 | by ( Leslie Josephs | ) www.cnbc.com time to read: +3 min

UPS workers ratified a massive five-year labor deal that includes big wage increases and other improvements to work rules and schedules, the International Brotherhood of Teamsters said Tuesday. The deal passed with 86.3% of votes, the highest contract vote in the history of Teamsters at UPS, according to the union. The parties had until July 31, when the previous labor contract was set to expire, to reach a deal and avoid a work stoppage. Current workers will get $2.75 more an hour this year and $7.50 an hour more over the five-year contract. FedEx pilots turned down a tentative agreement for a new labor contract earlier this summer.

Persons: Sean O'Brien, Carol Tomé Organizations: International Brotherhood of Teamsters, Teamsters, UPS, Amazon, U.S . Chamber of Commerce, Workers, American Airlines, United Airlines, Delta Air Lines, Southwest Airlines, FedEx Locations: U.S

☆ UPS contract: Teamsters union vote may bring threat of strike
▼ + stars: | 2023-08-22 | by ( Chris Isidore | ) edition.cnn.com time to read: +6 min

New York CNN —On Tuesday, the Teamsters union will announce if their 340,000 members at UPS have ratified a new contract or if they rejected it, reviving the risk of a crippling nationwide strike. The company is calling it a win for the union members, for the company and for its customers. While rank and file at UPS voted down a deal five years ago, a majority did not participate in that ratification process. There are numerous examples in recent years of rank-and-file union members voting down deals recommended by their leadership and sometimes forcing a strike. What’s in the dealThe UPS deal being voted on does give the Teamsters union some of its key bargaining goals.

Persons: Stellantis, Sean O’Brien, ”, “, Jennifer Hancock, Hancock won’t Organizations: New, New York CNN, Teamsters, UPS, Hollywood, General Motors, Ford, FedEx Locations: New York, Richmond , Virginia

It also could throw a wrench into the upcoming holiday shopping season that is a make-or-break period for retailers, including Amazon.com (AMZN.O), the largest UPS customer. If approved, the deal would raise pay for 340,000 UPS workers and eliminate a two-tier wage system for drivers. UPS cut its full-year revenue and profitability targets earlier this month, citing higher-than-expected labor costs and business lost during the tumultuous contract talks with the Teamsters. Under the contract deal, current full- and part-time workers will get $2.75 more per hour in 2023, and $7.50 more per hour over the length of the contract, according to the Teamsters. General wage increases for part-time workers will be double the amount obtained in the previous UPS Teamsters contract - and existing part-time workers will receive a 48% average total wage bump, addressing a key sticking point in talks, the union said.

Persons: Sergio Martinez, Mike Blake, Lisa Baertlein, Paul Simao Organizations: REUTERS, Teamsters, United Parcel Service, International Brotherhood of Teamsters, UPS, UAW, Detroit, Unions, Pilots, FedEx, UPS Teamsters, Thomson Locations: Los Angeles , California, U.S, Atlanta, Los Angeles, Bengaluru

☆ Hot strike summer has 'real potential to last,' Ivy League expert says: 'There's a contagion effect'
▼ + stars: | 2023-08-21 | by ( Jennifer Liu | In Jljenniferliu | ) www.cnbc.com time to read: +3 min

Tens of thousands of workers, from Hollywood writers and actors to hotel workers to UPS drivers, have taken part in the "summer of strikes." "When you see another union succeed, you're more inclined to push yourself for a better deal," he adds. "There's a contagion effect in seeing the [strike] strategy working, and you're more likely to use it yourself." "Good wages, benefits and job protections that you see in unionized jobs are going to attract workers. "Hollywood is a good example," he adds, "where people in technical trades that support productions have a lot of protections and benefits.

Persons: Alex Colvin, Colvin Organizations: Hollywood, Cornell ILR School Labor, Cornell School of Industrial and Labor Relations, Union, UPS, Bloomberg, Teamsters Union, CNBC, Starbucks, Companies Locations: New York

☆ UPS drivers can earn as much as $172,000 without a degree—how to land a job there
▼ + stars: | 2023-08-18 | by ( Morgan Smith | ) www.cnbc.com time to read: +2 min

Last week, UPS made headlines after announcing that its drivers will average $170,000 in pay and benefits at the end of a five-year contract agreement with the Teamsters Union. The tentative agreement covers all UPS delivery drivers in the U.S. "Every UPS job – even one that is part-time – is an opportunity for a career," she tells CNBC Make It. Between 2018 and 2022, 38,000 part-time UPS employees were promoted to full-time positions, the company reports. If you're interested in working at UPS, "a customer-focused mindset is critical," McCusker Rees stresses.

Persons: Danelle McCusker Rees, McCusker Rees, Warren Buffett Organizations: UPS, Teamsters Union, CNBC, Service, Bloomberg Locations: U.S

☆ Some people say they're angry that UPS workers could make $170,000 including benefits. Members of Congress make more than that for working a lot less.
▼ + stars: | 2023-08-17 | by ( Taylor Berman | ) www.businessinsider.com time to read: +2 min

UPS workers could get $170,000 in combined pay and benefits in 5 years' time thanks to their new union deal. Some tech workers seem mad about this. But members of Congress make $174,000 annually, and are only required to work about 155 days a year. As Insider reported last week, tech workers, or people claiming to be them, took to anonymous message boards like Blind to complain about the deal. Tech workers looking for easier jobs that pay well should simply run for office instead of complaining anonymously on message boards.

Persons: aren't, they're Organizations: Service, Teamsters, UPS, ABC, Tech Locations: Wall, Silicon, Ballotpedia, Congress

☆ My husband works for UPS and I wish people could see how hard his job is — and why the new $170,000 contract deal is well deserved
▼ + stars: | 2023-08-16 | by ( Fortesa Latifi | ) www.businessinsider.com time to read: +4 min

Kourtney is married to a UPS driver in Rhode Island. Kourtney says she sees how hard the job is and drivers deserve the new $170,000 contract deal. She believes people shouldn't be upset about the deal because blue-collar workers deserve fair pay. This as-told-to essay is based on a conversation with Kourtney, a 30-year-old hairdresser and wife of a UPS driver in Rhode Island. I feel like college-educated white-collar workers don't believe blue-collar workers deserve to live a comfortable life — even though service workers are the backbone of society.

Persons: Kourtney, shouldn't, that's, they're, he's, They're, It's, I've Organizations: Morning, Teamsters, UPS, Workers Locations: Rhode Island

☆ How to become a UPS driver — which now pays $170,000 a year when including benefits
▼ + stars: | 2023-08-14 | by ( Will Gendron | ) www.businessinsider.com time to read: +4 min

The Teamsters, which represent about 360,000 UPS drivers and package handlers, secured a wage boost. UPS drivers will now make $170,000 when including benefits — here's a look at how to become one. UPS signed a tentative agreement with the Teamsters union that's set to bump full-time driver salaries — when including benefits — to $170,000, a $25,000 increase from there they are right now. As of now, UPS drivers make about $95,000 a year, according to UPS, with a further $50,000 in benefits, for an average total compensation package of $145,000 per year. Being physically capable is crucial to delivery drivers, considering they work through extreme conditions at times, like blistering heat.

Persons: —, that's, Carol Tomé Organizations: Teamsters, UPS, Service, Teamsters —, US Department of Transportation Locations: Wall, Silicon

☆ UPS delivery-driver job searches soar 50% after union secures wage hike that could see workers get a $170,000 yearly package
▼ + stars: | 2023-08-09 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +2 min

Jobs as UPS delivery drivers are in hot demand after its union secured a wage boost for workers. Indeed said it had seen a 50% rise in searches for "UPS" and "United Parcel Service," per Bloomberg. UPS CEO Carol Tomé said drivers would make about $170,000 at the end of the new five-year contract. The union represents more than 340,000 UPS delivery drivers and package handlers. Teamsters UPS union members were preparing to strike if an agreement was not reached.

Persons: Carol Tomé, There's Organizations: United Parcel Service, Bloomberg, Morning, Service, Teamsters, UPS, Teamsters UPS

☆ Tech workers react to UPS drivers landing a $170,000 a year package with a mixture of anger and admiration
▼ + stars: | 2023-08-09 | by ( Grace Kay | ) www.businessinsider.com time to read: +6 min

Tech workers said the boost could make UPS driver pay competitive with tech salaries. Some tech workers said they feel "underpaid" in comparison and others pointed out UPS drivers have difficult jobs. The average UPS driver could get six-figure pay under a new contract, and tech workers have mixed feelings about it. LM Otero/APDespite some tech workers' resentment, many workers pointed out UPS drivers work under difficult conditions. UPS workers often must work holiday shifts, which are known for being grueling as package volume increases.

Persons: Carol Tomé, TuSimple, Centene, LM Otero, Santa Claus, Claire Vo Organizations: Tech, Morning, Teamsters, UPS, Microsoft, Bloomberg Locations: LCOL, Texas, Santa

☆ UPS CEO says drivers will average $170,000 in pay and benefits at end of 5-year deal
▼ + stars: | 2023-08-09 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

UPS ' CEO said drivers will average $170,000 in pay and benefits such as health care and pensions at the end of a five-year contract that the delivery giant struck with the Teamsters Union last month, averting a strike. "We expect our new labor contract to be ratified in 2 weeks," UPS CEO Carol Tomé said on an earnings call Tuesday. The company cut its full-year revenue and margin forecasts "primarily to reflect the volume impact from labor negotiations and the costs associated with the tentative agreement." The deal is the latest large wage increase won in labor negotiations. Workers from pilots to aerospace manufacturing employees have recently pushed for and won higher pay.

Persons: Carol Tomé Organizations: UPS, Teamsters Union, Workers

☆ UPS cuts margin, revenue forecasts as new labor contract weighs
▼ + stars: | 2023-08-08 | by ( Priyamvada C | ) www.reuters.com time to read: +2 min

A UPS delivery van is driven long a city street in Garden Grove, California, U.S., March 29, 2022. REUTERS/Mike Blake/File PhotoAug 8 (Reuters) - United Parcel Service on Tuesday cut its full-year revenue and margin forecasts and its shares fell 5.1% in premarket trading, as the world's largest delivery company expects a hit to volumes from a new labor contract. Some analysts said a potential loss for UPS is a gain for FedEx. "The implied market share loss in UPS guidance maybe a positive readthrough for FedEx, which likely benefited from the UPS labor deal related uncertainty," BMO Capital Markets analyst Fadi Chamoun said in a note. To shield its profit, UPS has been focusing on moving high-margin parcels, but its second-quarter sales took a hit from lower domestic and international package revenue.

Persons: Mike Blake, Fadi Chamoun, Carol Tomé, Priyamvada, Arun Koyyur Organizations: UPS, REUTERS, United Parcel Service, Teamsters, FedEx, BMO Capital Markets, Revenue, Thomson Locations: Garden Grove , California, U.S, Bengaluru

☆ UPS cuts margin and revenue forecasts as weak demand, new labor contract weigh
▼ + stars: | 2023-08-08 | by ( ) www.cnbc.com time to read: +1 min

United Parcel Service on Tuesday cut its revenue and margin forecasts for 2023, hurt by weakening e-commerce demand and in anticipation of a hit to volumes from an improved labor contract, sending its shares down 4.7% in premarket trading. The contract that would cover about 340,000 U.S. workers needs to be ratified by employees. In an attempt to shield its profit, UPS has in recent quarters sharpened its focus on moving high-margin parcels. It now expects full-year adjusted operating margin of around 11.8%, compared to its prior forecast of about 12.8%. UPS forecast annual consolidated revenue to be about $93 billion, compared with a prior forecast of about $97 billion.

Organizations: Parcel Service, Teamsters, UPS, Revenue

☆ Teamsters union pushes for US bankruptcy reform after Yellow's collapse
▼ + stars: | 2023-08-08 | by ( Dietrich Knauth | ) www.reuters.com time to read: +3 min

The Teamsters union said 22,000 of its members were out of work despite making significant concessions on wages and pension benefits in labor negotiations with the nearly 100-year-old company, which filed for bankruptcy on Sunday. Yellow has blamed the Teamsters' opposition to its internal reorganization efforts for its collapse. The union warned that the bankruptcy could mean they will not receive bargained-for retirement benefits or severance pay. "Corporate bankruptcy legislation in the U.S. is a joke," Teamsters General President Sean O'Brien said in a statement. U.S. bankruptcy law currently prioritizes repayment of up to $15,150 in wages per employee, according to bankruptcy attorney George Singer, who is not involved in Yellow's case.

Persons: Mike Blake, Sean O'Brien, Dick Durbin of, Jerry Nadler, George Singer, Singer, Donald Trump's, Dietrich Knauth, Jamie Freed Organizations: U.S, Brotherhood of Teamsters, Yellow Corp, Teamsters, Congressional, Dick Durbin of Illinois, Employees, Thomson Locations: Mexico, San Diego , California, U.S, York

☆ UPS says its profit will fall after it reaches a Teamsters deal. Its stock is sinking sharply
▼ + stars: | 2023-08-08 | by ( Chris Isidore | ) edition.cnn.com time to read: +1 min

New York CNN —UPS reported a sharp drop in revenue and profit in the second quarter. The company also cut its profit forecast, expecting narrower margins in the wake of its tentative deal with the Teamsters union. Shares of UPS (UPS) fell nearly 4% in premarket trading following the report. The company had already warned three months ago that it expected lower volumes this year due to a softening economy. The company reached a tentative deal with the Teamsters on July 25, just ahead of an August 1 strike deadline.

Organizations: New, New York CNN, UPS, Teamsters, Refinitiv, Refinitiv . Revenue Locations: New York, Refinitiv .

☆ Here’s who is on strike in LA, and what it means for Angelenos
▼ + stars: | 2023-08-08 | by ( Ellie Stevens | ) edition.cnn.com time to read: +5 min

The strike is the first by LA city workers in more than 40 years. Members voted to authorize the strike only after “repeated labor law violations” by Los Angeles city management, according to the union. “City workers are vital to the function of services for millions of Angelenos every day and to our local economy. Los Angeles city workers hold a rally outside the city hall during a one-day walkout strike in protest over labor negotiations, in Los Angeles, California, U.S., August 8, 2023. Los Angeles city departments are bracing for the impact of today’s work stoppage and attempting to mitigate disruptions to city operations.

Persons: ” David Green, “, ”, we’re, Lauren Lesure, Sarah Reingewirtz, ’, that’s, ” Green, Los Angeles Mayor Karen Bass, Green, Bass, Mike Blake, ” Dae Levine, –, Sam Delouya, Nadia Bidarian Organizations: CNN, Hollywood, LAX, SEIU, InterContinental, Downtown, MediaNews, Los Angeles Daily News, United Auto Workers, Ford, General Motors, Teamsters, UPS, Los Angeles Mayor, Los, Los Angeles World Airports Locations: Los Angeles, Southern California, InterContinental Los, Angeles, Northern California, Jose, California, Los, “ City, Los Angeles , California, U.S, United States

☆ It’s not just actors: Over 11,000 city workers will strike in LA on Tuesday
▼ + stars: | 2023-08-07 | by ( Samantha Delouya | ) edition.cnn.com time to read: +4 min

CNN —Over 11,000 Los Angeles city workers are planning to strike on Tuesday, according to the union that represents many of the city’s public-sector staff. SEIU 721, which represents more than 95,000 workers in Southern California, said members voted to authorize the strike after “repeated labor law violations” by Los Angeles city management. “City workers are vital to the function of services for millions of Angelenos every day and to our local economy. A summer of strikes nationwideThe strike is the first by LA city workers in more than 40 years and comes amid a wave of union activity in the city and across the country. Get ready for slower serviceLos Angeles city departments are bracing for the impact of Tuesday’s work stoppage and attempting to mitigate disruptions to city operations.

Persons: “, ” David Green, we’re, Green, that’s, ”, ” Los Angeles Mayor Karen Bass, ’, ” Green, ” Dae Levine Organizations: CNN, SEIU, Los Angeles International Airport, City Hall, LAX, ” Los Angeles Mayor, United Auto Workers, Ford, General Motors, Teamsters, UPS, Los, Los Angeles World Airports Locations: Angeles, Los Angeles, Southern California, ” Los, “ City, Northern California, Jose, California, United States

☆ US trucking firm Yellow files for bankruptcy after loading up on debt
▼ + stars: | 2023-08-07 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Rebecca Cook/File PhotoAug 6 (Reuters) - U.S. trucking firm Yellow Corp (YELL.O) filed for Chapter 11 bankruptcy protection on Sunday, burdened with a heavy debt load after a series of mergers and following tense contract negotiations with the Teamsters Union. The bankruptcy filing in a Delaware court lists estimated assets and liabilities of $1 billion to $10 billion and creditors of more than 100,000. Yellow's bankruptcy filing comes after Teamsters Union said late last month that it was notified that the company was ceasing operations. The company has been in contentious negotiations with the union over an internal restructuring initiative meant to boost efficiency. Yellow, saddled with liabilities from its purchases of Roadway in 2003 and USF in 2005, reported total debt of $1.5 billion last year, according to Refinitiv data.

Persons: Rebecca Cook, Darren Hawkins, Yellow, Donald Trump, Dietrich Knauth, Priyamvada, Juby Babu, Siddharth Cavale, Lisa Baertlein, Sriraj Kalluvila, Dhanya Ann Thoppil Organizations: REUTERS, Yellow Corp, Teamsters Union, YRC, Walmart, Uber, Teamsters, USF, Thomson Locations: Detroit , Michigan, U.S, Delaware, Kansas, New York, Bengaluru, Los Angeles

New York/Hong Kong CNN —Yellow Corp., a US trucking company that was once dominant in its field, has filed for bankruptcy as it winds down the 99-year-old business. The Nashville-based logistics provider announced Sunday it had filed for Chapter 11 relief in the US Bankruptcy Court for the district of Delaware. “It is with profound disappointment that Yellow announces that it is closing after nearly 100 years in business,” CEO Darren Hawkins said in a statement. “Today, it is not common for someone to work at one company for 20, 30, or even 40 years, yet many at Yellow did. The filing comes more than a week after the trucking company halted operations, putting 30,000 people out of work.

Persons: Darren Hawkins, ” Organizations: Hong Kong CNN — Yellow Corp, Court, Teamsters Locations: New York, Hong Kong, Nashville, Delaware, “

☆ Trucking firm Yellow considers asset sale through bankruptcy filing, Bloomberg reports
▼ + stars: | 2023-08-04 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Rebecca Cook/File PhotoAug 4 (Reuters) - Trucking firm Yellow (YELL.O) is considering a sale of assets and real estate through a bankruptcy filing, which may come as soon as this weekend, Bloomberg News reported on Friday, citing people with knowledge of the situation. The company's assets have attracted the interest of a potential financial bidder, the report said adding that the bankruptcy filing could turn into a liquidation. The stock has risen about 253% since the news of a potential bankruptcy that has been driving a retail investor fueled 'meme-stock' rally. The cash-strapped U.S. trucking company had ceased operations and was planning to file for bankruptcy after failing to reorganize and refinance over a billion dollars in debt, the Teamsters Union said on Sunday. Reporting by Manya Saini and Ananta Agarwal in Bengaluru;Editing by Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

Persons: Rebecca Cook, Manya Saini, Ananta Agarwal, Arun Koyyur Organizations: REUTERS, Bloomberg, Teamsters Union, YRC, U.S, Thomson Locations: Detroit , Michigan, Bengaluru

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