The Epoch Times
U.S. trucking firm Yellow Corp. filed for Chapter 11 bankruptcy protection on Sunday after the company buckled under pressure from a mounting debt load as well as a standoff with employee union.
“It is with profound disappointment that Yellow announces that it is closing after nearly 100 years in business,” said Yellow’s Chief Executive Officer, Darren Hawkins in an Aug. 6 press release. “Today, it is not common for someone to work at one company for 20, 30, or even 40 years, yet many at Yellow did. For generations, Yellow provided hundreds of thousands of Americans with solid, good-paying jobs and fulfilling careers.”
The Nashville, Tennessee-based nearly 100-year-old company’s bankruptcy filing puts about 30,000 workers at risk at a time when the freight industry is already grappling with slumping volumes.
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