🧵 1. Yellow, the third-largest US trucking company, reportedly plans to file for bankruptcy next Monday, leaving 30,000 employees unsure of their future. #business
🧵 1. Yellow, the third-largest US trucking company, reportedly plans to file for bankruptcy next Monday, leaving 30,000 employees unsure of their future. #business
🧵 2. Sales employees at Yellow were instructed to inform customers about the bankruptcy filing and take paid time off for the rest of the week.
🧵 3. However, in a later meeting, Yellow's senior VP asked employees to backtrack on the bankruptcy statement and provided a different response to share with customers.
🧵 4. The company's talks with the International Brotherhood of Teamsters are ongoing, and Yellow is preparing for various contingencies, according to a representative.
🧵 5. Yellow's VP of technology services also warned her team about the possibility of bankruptcy, advising them to update their resumes. Uncertainty looms for the struggling trucking giant.
🧵 Read more at: https://www.zerohedge.com/economics/exec-trucking-giant-yellow-tells-staff-company-will-file-bankruptcy-monday