American Yellow Provider Ceases Operations – Wall Road Journal by Reuters
(Reuters) – The Wall Road Journal mentioned, citing notices despatched to clients and workers, that the US firm, Yellow Transport, had suspended all operations on Sunday.
The Wall Road Journal reported final week that the Nashville, Tennessee-based firm is getting ready to file for chapter, and has laid off a slew of employees.
Earlier this month, Yellow averted a threatened strike by 22,000 employees represented by Teamsters, saying the corporate would pay greater than the $50 million it owes in employee advantages and pension advantages.
Yellow didn’t instantly reply to a Reuters request for remark.
The corporate mentioned Thursday that it’s exploring alternatives to divest itself of third-party logistics firm Yellow Logistics Inc, and is working with a number of events.