Yellow Corp., a once-dominant US trucking company, has filed for bankruptcy as it winds down its 99-year-old business that employs 30,000 workers. The filing comes more than a week after the trucking company halted operations, putting 30,000 people out of work. Once an industry stalwartYellow Corp. was started in 1924, primarily operating under the name Yellow Freight. While the nonunion LTL carriers started with a significant cost advantage, repeated concessions by the Teamsters union helped close much of that gap. Instead of working with Yellow to negotiate a new contract, the IBT made its intentions clear: destroy Yellow,” the company said in a recent statement.

Source: CNN August 07, 2023 07:55 UTC