Yellow Corp

About Yellow Corp

Yellow Corporation, one of the largest trucking companies in the US, filed for Chapter 11 bankruptcy on August 7, 2023. Yellow had 99,000 employees and operated 12,000 trucks. The company had lost money for years, hurt by non union competition and debt from acquisitions. The Teamsters Union, representing 22,000 Yellow employees, threatened to strike over missed pension payments. The Treasury Department had given Yellow a 700 million pandemic loan. Yellow accused the Teamsters of driving the company into bankruptcy. The Teamsters blamed management. The bankruptcy auction raised approximately 1.9 billion from selling trucks, trailers, and terminals. The case became politically controversial, with Republicans blaming the Biden administration and Democrats blaming mismanagement.