On July 31, 2023, U.S. trucking company Yellow Corp filed for bankruptcy, ceasing its operations due to massive debt. The Teamsters Union represented over 22,000 employees, and large retailers like Walmart and Home Depot stopped shipments to Yellow, fearing loss or stranding of goods.
Yellow, previously known as YRC Worldwide, faced ongoing struggles, worsened by the COVID-19 pandemic’s impact on shipping demand. Despite trying to sell its logistics business in June 2023, the attempts were unsuccessful.
This bankruptcy is a significant blow to the already challenged trucking industry, grappling with labor shortages and rising fuel prices. The fallout from Yellow’s collapse is expected to affect other carriers in the industry.
The Teamsters Union is dedicated to ensuring fair treatment for Yellow’s employees during the bankruptcy process and assisting them in finding new employment opportunities.
The trucking industry and former Yellow employees are deeply affected by this unfortunate event. Nonetheless, the Teamsters Union remains optimistic about the industry’s future and the prospects for Yellow’s workers in securing new jobs.
