Less-than-truckload carrier Yellow Corp. ceased all operations at 12 p.m. Sunday, according to a notice on the gates at its terminals.
Separate internal documents showed the procedures for closing the facilities as well as “talking points” to be used when informing union employees not to show up for their shifts. The documents indicated the company plans to issue a public statement Monday updating “the state of the company and the operation.”
On Friday, Yellow (NASDAQ: YELL) laid off most of its nonunion employees in areas like customer service, information technology and sales. The company stopped making pickups earlier in the week and has been delivering the remaining freight in its network ahead of what appears to be a permanent closure.
After months of negotiations with its Teamsters workforce, the carrier has been unable to reach terms over proposed operational changes it has said were required for its survival. In a breach of contract lawsuit filed last month regarding the matter, the company said it could be out of cash as soon as mid-July.
Most are expecting Yellow to announce it will file for bankruptcy Monday.
Representatives from Yellow had not commented by the time of this publication.
Tim
Thanks O’Brien for being bullheaded. You put 22,000 Union Brothers out of work. used us as a pawn to get your way with UPS, Tforce and ABF. Jimmy Hoffa would have made the deal.
Trisha Beltran
I would love to offer anyone interested in still working the logistics industry to reach out to me, Patricia “Trisha” Reyes. I am the Director at Zepto and we are currently growing our operations. With more than 200 units, we are ready to grow.
We are hiring talented people and have positions that range from in-person near OakBrook, IL for anyone who was affected by the Yellow layoffs that would like to relocate. Or maybe they prefer the remote position.
I would love to be a resource and guide those in the right direction during these hard times. I believe if we all come together to support we will be able to help some if not all.
They can reach me at reyes@zepto.net.
This can be their next opportunity.
David W Wages
Sad day for LTL. Bad Management and greedy Unions. Bad combination.
Rotary j
Once yellow purchased Roadway, a company with no debt, this was inevitable.
Rotary j
On Yell
Johnnie
What happens to their equipment?
Roland Pelchat
Well, that’s what mismanagement, corporate greed AND a greedy union get’s you…so glad I am finished with this industry🔥🔥🔥
About time!
Good. It’s about time this rotten to the core company finally ended its long journey to the basement. It probably should have happened many years ago. This time there will be no savior – especially not us tax payers.