![]() ![]() Yellow bankruptcy had long loomed amid debt woes USA TODAY could not immediately reach a representative from Yellow Corp. "This is a sad day for workers and the American freight industry." "Yellow has historically proven that it could not manage itself despite billions of dollars in worker concessions and hundreds of millions in bailout funding from the federal government," O'Brien said in a statement. ![]() The Teamsters, which represents about 22,000 unionized Yellow workers nationwide, announced Monday that the union received legal notice confirming Yellow's decisions, which general president Sean O’Brien called "unfortunate by not surprising." The closure threatens the jobs of nearly 30,000 employees at the nearly-century-old freight delivery company, which generates about $5 billion in annual revenue.Īfter a standoff with the union, Yellow laid off hundreds of nonunion employees on Friday before ceasing operations on Sunday, according to the Wall Street Journal, citing people familiar with the actions.ĬVS layoffs: Healthcare giant cutting about 5,000 'non-customer facing positions' Yellow Corp., one of the largest trucking companies in the United States, has halted its operations and is filing for bankruptcy, according to the Teamsters Union and multiple news reports. ![]()
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