Yellow Corporation is one of the largest trucking companies in the United States. It was founded in 1929 and is headquartered in Nashville, Tennessee, with terminals and employees spread across more than 300 locations.
The company announced that it will be shutting down operations and laying off 30,000 employees across all levels of the company, and this will take place over the next few months.
This is due to the current turbulent economy, and financial decisions dating 20 years ago when the company acquired enormous debts to aid acquisitions. Yellow Corporation is 30% owned by the US Federal Government and owed over $700 million USD to the said Government.
How are things looking in the trucking business with Yellow Corp gone? Stay tuned!