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.
riley
Good bye and Good riddance — the employees (all employees – lower management) gave back millions, the private lenders gave over $500 million and the government gave $700 million dollars. Just a poorly mismanage company (poor leadership).
Troy
Unions are not what they use to be!!
There was a time when it was a really good thing way back when
Joe Garza
Sad scenario. Good luck to you all. Hope the Union helps you until you find another employer. I have been there. It’s a sick feeling knowing what you have been doing for years. Just comes to an abrupt stop.
Rex Robinson
Yay teamsters!! Way to show them who the boss really is! Damn this is unbelievable really there will be 100s of millions lost to vendors and small business that extended yellow credit all because teamsters didnt get their damn way! Unions suck!! Not to mention all the unemployed Yellow drivers who will still have to pay their union dues….
Randy
Hey Jon teamsters bailed out yellow 4 ti.es. the govern.e t once and they still couldn’t get their act together. How many ti.es do they need to.
Greg
It’s Ok, Union bosses are still getting paid. Yet another Union destroyed company.
Jon
Teamsters break another company and leaves its union people back out on the workforce.
How’s that for protecting their people?
Chad S.
If you can’t afford to pay your workers a living wage, your company should be out of business.