Yellow Corp To Cease Operations

Ninety-five year old Yellow Corp. will cease operations and file for bankruptcy, according to a statement from the Teamsters Union.

“The Teamsters Union was served legal notice today that Yellow Corp. is ceasing operations and filing for bankruptcy. This is a sad day for workers and the American freight industry,” said Teamsters General President Sean M. O’Brien.

Yellow is a leading less-than-truckload carrier with 30,000 employees covering 317 terminals nationwide with headquarters in Nashville, TN and $5.1B in annual revenues.

Yellow’s competitors include ABF Freight, XPO, Old Dominion, and https://www.fedex.com/en-us/shipping/freight.html?utm_source=Official+Mail+GuideFedEx Freight, who may increase frieght rates to cope with changing demand.

As of 8/2/2023, Yellow has not filed for bankruptcy.

“Founded as the country’s first less-than-truckload carrier, Yellow began its journey nearly 100 years ago. And now, we’re building upon our legacy as the creators of the LTL industry, strengthened by our superior network, expansive shipping footprint and over 30,000 dedicated employees across the country.” — Yellow website

This story will be updated.