An agreement between the Teamsters and Central States Funds averts, for now, a strike that could have begun as soon as July 24 against Yellow Corp.

Yellow Corp. will not have to meet certain financial targets under a deal with its lenders, winning valuable breathing space as it battles the Teamsters union and the threat of bankruptcy.

Yellow Corp. filed suit June 27 against the Teamsters union and certain affiliates alleging breach of contract and accusing the union of causing more than $137 million in damages.

Transportation leaders from government and industry are closely watching labor negotiations, including pending contracts with workers from both UPS Inc. and Yellow Corp.

Less-than-truckload carrier Yellow Corp. announced first-quarter earnings May 3 that missed Wall Street revenue and income expectations.

Yellow Corp. increased revenue but earnings declined during the third quarter, the company reported Nov. 2.

Leaders with less-than-truckload carrier Yellow Corp. are touting the company’s fifth successive quarter of financial improvement and strong second-quarter earnings that beat Wall Street expectations.

Yellow Corp. posted its best first-quarter results in six years as losses narrowed and revenue increased, the company announced May 10.

CARLISLE, Pa. — Executives from Yellow Corp. were joined by Labor Secretary Marty Walsh and Pennsylvania Gov. Tom Wolf at a March 29 ribbon-cutting for the motor carrier’s 17th driving academy, a date that also marked the end of the Biden administration’s 90-day challenge to trucking companies to ramp up training and apprenticeship programs to bring drivers to the industry.

Yellow Corp. has reached a settlement with the Department of Justice over allegations dating back to 2005 that the company overcharged the federal government while shipping items for the Department of Defense.