Yellow Corp. Bankruptcy Sends Shockwaves Through Trucking Industry
Yellow Corp, a trucking company, has announced the cessation of all operations, leaving approximately 30,000 workers without jobs. The company, which was once a major player in the industry, had been struggling with a significant decline in customers and difficulties in repaying a $700 million pandemic-era loan. Tensions between Unionized Workers and the Teamsters further exacerbated the situation. As former Yellow customers turn to other carriers, shipping prices are expected to rise. Workers like Jay Repka, who received less than 24 hours' notice before being laid off, are already feeling the impact on their livelihoods. The company is anticipated to file for bankruptcy soon.