Teamsters notified that Yellow Corp. ceasing operations, filing for bankruptcy

The Teamsters Union was served authorized discover on Monday that Yellow Corp.—one of many US’ largest less-than-truckload (LTL) carriers—is ceasing operations and submitting for chapter.

In the present day’s information is unlucky however not shocking. Yellow has traditionally confirmed that it couldn’t handle itself regardless of billions of {dollars} in employee concessions and a whole bunch of tens of millions in bailout funding from the federal authorities. This can be a unhappy day for staff and the American freight business.

—Teamsters Normal President Sean M. O’Brien

The scenario is growing, the union famous in an announcement; further particulars might be forthcoming.

Final week, Yellow introduced that it was exploring alternatives to divest its profitable 3PL, Yellow Logistics, Inc., and is presently engaged with a number of events concerning the sale of its unbiased Third-Get together Logistics group.

Yellow Logistics is a customer-specific logistics answer supplier that focuses on truckload, residential, contract logistics, engineered options, distribution, and warehousing and is operated by an unbiased, non-union subsidiary of Yellow.