The U.S. Yellow Corporation shut down Sunday after more than 100 years in operation following years of financial struggles and the threat of a Teamsters strike.
Kasowitz Benson Torres’ Marc Kasowitz details the ongoing legal battle between Yellow and the Teamsters Union on ‘The Claman Countdown.’The company sent notices to customers and employers, according to a report fromThe end of the road comes after the company earlier this month averted a strike by some 22,000 Teamsters-represented workers, saying the company will pay the more than $50 million it owed in worker benefits and pension accruals.
Yellow Corp. trailers are pictured at a YRC Freight facility Friday, July 28, 2023, in Richfield, Ohio. The shutdown comes after more than a decade of financial struggles and seeing customers leave in droves. According to Satish Jindel, president of transportation and logistics firm SJ Consulting, Yellow handled an average of 49,000 shipments per day in 2022. Last, that number was down to between 10,000 and 15,000 daily shipments.of about $1.5 billion. Of that, $729.2 million was owed to the federal government.
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