Yellow Corp., one of the nation’s largest and oldest trucking companies is shutting down, laying off all 30,000 of its workers. Yellow filed for bankruptcy Monday, the largest filing of that kind for a trucking company in the U.S.
The unionized company had seen a recent exodus of customers amid years of financial troubles and a battle with the Teamsters union, which represents roughly 22,000 of its drivers and dock workers. Just a week ago, the union canceled a threatened strike after the company failed to make payments to employee pension and health insurance plans.
