Global cities inc jobs1/3/2024 ![]() The same day, Teamsters had advised Yellow employees to "prepare for the worst." Yellow laid off an unknown number of its employees on Friday, reported FreightWaves, citing a memo sent to staff informing them that the company is "shutting down its regular operations" and "laying off employees at all of its locations." Yellow has not responded to NPR's requests for comment. Yellow says it will issue a public statement on Monday about "the state of the company and the operation," according to the industry outlet FreightWaves, which also obtained internal documents. The union's announcement comes hours after The Wall Street Journal reported that Yellow shut down on Sunday afternoon, citing internal notices sent to customers and employees. ![]() "This is a sad day for workers and the American freight industry." "Today's news is unfortunate but not surprising," said Teamsters General President Sean O'Brien. The Teamsters union, which had been locked in contentious negotiations for a new contract with Yellow, said it received a legal notice that Yellow is ceasing operations and filing for bankruptcy, according to a news release posted Sunday night. Yellow has not publicly announced any plans for bankruptcy or a potential shutdown.Įmployees were told to prepare for a company shutdown LTL companies move pallet-sized shipments - smaller than a container, but bigger than a parcel. ![]() The company, formerly known as YRC Worldwide, is the third largest less-than-truckload carrier by revenue, behind FedEx and Old Dominion. With 30,000 jobs at stake, it's poised to be the largest trucking bankruptcy in the history of the U.S., experts said. The company is expected to file for bankruptcy as soon as Monday, according to industry experts, following a recent exodus of customers amid union strife and on top of years of financial troubles. ![]()
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