After nearly a century of operation, Yellow Corp., a prominent trucking company, suspended all its operations on Sunday, leading to the layoff of its entire workforce, which amounts to approximately 30,000 employees.
The company has been engaged in a contentious dispute with the Teamsters union, which represents around 22,000 drivers and dock workers at Yellow Corp. The conflict arose due to the company’s failure to contribute to the pension and health insurance plans of its unionized workers. Last week, the union threatened a strike, but it was subsequently called off after granting the company an additional month to fulfill its obligations regarding the payments.
Despite the temporary reprieve, the financial struggles faced by Yellow Corp. eventually led to the decision to halt its operations entirely, impacting thousands of workers and raising concerns about the future of the company and its workforce.