Transportation
Trucking Firm Yellow Shuts Down After Financial Woes, Union Says
- Teamsters say freight company plans to file for bankruptcy
- Yellow has been trying to manage debt, reorganize operations
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Trucking firm Yellow Corp. told workers it was shutting down, according to its union, jeopardizing 30,000 jobs as the historic freight brand faces heavy debt loads and operational woes.
The Nashville-based company notified union officials that it planned to file for bankruptcy after ceasing operations, according to a statement Monday from the International Brotherhood of Teamsters.