99-year-old trucking company Yellow shuts down, putting 30,000 out of work

Yellow Corp., a long-standing trucking company with a 99-year history and once a dominant player in its industry, has suspended operations, resulting in the layoff of all 30,000 of its workers.

The company has been embroiled in a dispute with the Teamsters union, representing approximately 22,000 drivers and dock workers at Yellow Corp.

Just a week ago, the union called off a potential strike that arose due to the company’s failure to contribute to pension and health insurance plans.

The union had granted Yellow Corp an additional month to fulfill its payment obligations, CNN reported.

However, by the middle of last week, the company ceased picking up freight from customers, only making deliveries of existing freight within its system.

READ MORE: https://www.cnn.com/2023/07/31/business/yellow-corp-closing/index.html

Links for B.C.

Visit My Website
https://bcbegley.com

Follow Me On Facebook
https://www.facebook.com/B.C.Begley

Subscribe To My Patreon
https://www.patreon.com/bcbegley

Watch Me On YouTube
https://www.youtube.com/channel/UCGoUf-QQTlTN-BIh3ERCE9A

Follow Me On Twitter
https://twitter.com/BC_News1

Watch Me On Rumble
https://rumble.com/c/c-280191

Follow Me On Gab
https://gab.com/BC_Begley