Trucking giant Yellow Corp shuts down, 30,000 fired | NewsNation Now

[@nimbly1693]

I have been a truck driver most of my adult life. Bailing out failing companies is the dumbest thing I have ever heard!

[@charlesincharge.5161]

TAKE THE MONEY AND RUN. 📡👽🇺🇸 RUN!!! EXECUTIVE BONUSES.

[@TrumpIsrael2024]

Well, we, taxpayers, bailed out banks, car companies, so nothing new.....

[@nimbly1693]

@@TrumpIsrael2024 It is a fairly new thing though. They didn't bail out Packard, Studebaker, or Indian Motorcycles. Did they.

[@erikh9991]

@@nimbly1693 That just begs the question, was our elected politicians heavily invested in these companies they bailed out? Some of them got funds too.

[@imperialmotoring3789]

But it's ok to bail out the ukraine and 100 million illegals, right?

[@briankalfus598]

There's plenty of good people looking for jobs but there's not a lot of good jobs willing to pay those people

[@classicxl]

100% agree although I heard they were only getting paid $26.60 a hr but with great benefits

[@briankalfus598]

@@classicxl 26.60 with great benefits is a good job, not for me but still not a bad living

[@RedRedred-ld4pb]

Non union trucking companies will not hire union scabs.

[@americanskeptic1559]

This will force wages even lower because the desperate will work for peanuts

[@briankalfus598]

@@americanskeptic1559 not to mention the illegals

[@devilman3136]

There is not a shortage of drivers. There’s a shortage of good companies

[@kennethpereyda5707]

and good Unions

[@FullUhFools]

I'll second that. Any faceless large corporation where you can't physically see or speak to the CEO is usually using us like pawns.

[@warfarenotwarfair5655]

​@samgriess438Wrong on both accounts 😂.

[@jaygold4467]

There's a shortage of pay and working conditions. No long haul trucker should make less than $80K with full benefits and a 40 hour week.

[@Mistro07]

@@jaygold4467you make what your worth, if there is a lot of drivers (which there is), and the entry into the field is very simple to get more drivers, the pay will always be on the lower side…it’s simple supply and demand

[@Turk-tf6vp]

Remember when truck drivers were heroes for about 3 days in the beginning of the pandemic.

[@JohnPublic-dk7zd]

We saw a lot those days...I noted we were considered 'essential' workers those days, as opposed to all the government bureaucrats who were told to stay home...but no mean tweets...!

[@improvisedsurvival5967]

We didn’t get hazard pay. Told we were essential but now we aren’t so essential. Freight market is saturated drivers are dime a dozen

[@Michael420-mh7dd]

Truckers are heroes after any kind of natural disaster or something for a few days anyway. Afterwards were back to being hated by most people for reasons I'll never have figured out

[@williamshook982]

No

[@wvjeepguy8178]

@@improvisedsurvival5967 that's odd.....all of our local companies are constantly hiring and can't find enough drivers.

[@jonp4846]

Some notable bailouts of the last ~40 years that come to mind: 1980: Chrysler Corporation - 1.5 billion 1989: Savings and loan crisis - 125 billion 2001: Airline bailout - 15 billion 2008: Bank bailout - 700 billion (still arguable what the final nut ended up being. 440 maybe?) Welcome to Corporate Welfare, folks.

[@blakebortles6098]

1929 crash will look a picnic

[@bwofficial1776]

It'll be worse if we don't bail them out.

[@blakebortles6098]

@@bwofficial1776 hahahaha what a joke

[@jonp4846]

@@blakebortles6098 Just make sure you don't call it welfare. Corporations don't like that shit.🙄

[@dorispowers9060]

You left out General Motors in 2008 . 50 billion dollars. The taxpayers collected only 17 billion back. Taxpayers did get 50% Stock but Obama sold it early for a huge loss. IMHO

[@NtDs90]

The failure of Yellow is solely due to the top executives and the union leaders. All the workers did their jobs and are not at fault.

[@livefree1030]

Absolutely not. I was a driver leader for YRC (Yellow). Our drivers made top dollar, but would always refuse to do their jobs (haul freight).

[@NtDs90]

@@livefree1030 what was top dollar? I get about $50 an hour plus benefits. I work for one of the competitors.

[@drexlspivey3047]

Ntd not true. The union made huge concessions in the last contract so the company could compete better in the future. Yet they ran it into the ground.

[@NtDs90]

@@drexlspivey3047 yet the company with 30k employees is gone. It is both the top executives and the top union leadership that failed those 30k employees. It’s never JUST the executives. You can be pro union all you want but in the end the union played a hand in it. Just like CF back in 2002.

[@hurt1704]

@@NtDs90yep. All these Union boys keep spewing that nonsense and it’s bs. So many Union Ltl trucking jobs have came and gone over the same reasons. Yellow is no different

[@isabellaflorentina7574]

700 million bailout? Someone or someones is getting a very nice golden parachute. Way to stick I to your workers and the taxpayers.

[@princegroove]

Hence, take the free money from government and run.

[@TheNichola6]

Went towards union pensions

[@SmokyOle]

And 30,000 pensions just went up in smoke. Do not give your life to these companies people.

[@michaelmanning3528]

No The teamsters control the pension not the company

[@nerovox3875]

Funny thing is, driving local was a good gig before they changed the hours of service. Load planners, dock guys and company policies had to be spot on cause you had 10 hours to get stuff delivered and picked up. After the change it was a constant throw everything in there however, all of sudden every customer was not interested, it was lunch time, you skip them and next thing you know you’re getting an earful from sales, or whoever. It turned out to be nothing but a 14 hour a day grind. The drivers became the whipping boys for all levels of incompetency and treated like absolute shit by everyone including some unskilled moron who could barely count to 10.

[@treadhead]

WHO BENIFITED FROM THE TAXPAYERS *** COVID DOLLARS , MAYBE AN INVESTIGATION IS WARRANTED ?????? FOR S O M E UPPER OFFICIALS WHO BENEFITED , FACE THE CONSEQUENCES ??????????????

[@imperialmotoring3789]

That was the federal government, not the companies that did that. Unions made it worse.

[@pattyb8904]

Lol go union right?

[@imperialmotoring3789]

@@treadhead Investigate Biden and other democrats that are selling us out to China. And investigate Zelsenskyyyyyyy.

[@kimmichaluk3072]

Im sorry for all of these employees and their families. And its tough on the taxpayers too. All around sad news. Take care everyone 🙏

[@the4thj]

If you don't know what LTL is here it is in a nutshell, LTL (Less Than Truckload) shipping is like a mailman collecting letters from different addresses and putting them all in one bag. Similarly, an LTL truck driver goes to various businesses and picks up smaller loads, which can vary in size, weight, and shape. This includes pallets of goods that are 40 X 48 inches or heavier, as well as items that may be lighter, longer, or have odd shapes. In the old days, LTL shipping was done using wagons, and the driver would announce when and where they were heading through a posted notice. People who wanted to ship their goods would list them on a manifest and bring them to the designated location on the departure day. This system evolved into the current practice, where LTL drivers arrive at various locations and wait to be loaded with their designated shipments. This history of LTL shipping helps illustrate the evolution of the industry from its early origins to the more sophisticated and streamlined process we have today. LTL plays a vital role in the logistics and transportation industry by efficiently transporting smaller shipments from multiple shippers in a cost-effective manner. Working on the dock was like an orchestra!

[@phoxpharms]

There is no worker shortage at all, in any sector. There is only a good employer shortage. People are tired of giving up 33-50+% of their lives for companies that don't care.

[@renabaker1]

I know declaring bankruptcy means you don't really have to pay back a loan, no money to do so. So if they don't have to pay back 775 million dollars, why should someone pay back a 65 thousand dollar college loan. What's the difference? Borrowing from the government, is borrowing from the government. So much for too big to let fail.

[@Whitemink32]

Too big to fail

[@uprightfossil6673]

To be fair, the CEOs get paid enough money to bribe enough politicians to get their way. Unemployed college graduates not so much. Now you know.

[@HotDawgzzzzz]

Fking exactly !

[@hankwells2637]

first off if you have 65 thousand in student loan debt you did college wrong. Second you can have your student loan discharged, you do need to show that you have a serious hardship that you yourself did not cause (E.g., consumer debt). Even then discharging student loans is a dangerous slope as it is impossible for the lender to regain any material asset tangible or not (I.e., you cant un attend college / unlearn information you borrowed money for). The 775 million will be repaid by the liquidation of tangible and nontangible assets Yellow Trucking has.

[@uprightfossil6673]

@@hankwells2637 the point is that these big companies got a lot of money to stay solvent and then two years later, and new cars all the way around for the executives….bankruptcy 😂…if you don’t see it, it’s okay.

[@REDOS1988]

I am so confused on how they went bankrupt. 🤔🤔 Remember all the shipping freight that was backed up? How did they not have work when all those ships needed unloaded and delivered? Something seems fishy.

[@deanvoss7098]

Yellow was burning through over 10 million dollars each day that's why

[@marcnotarianni1889]

Corporate greed. Look up Ceo pay

[@mapguy32]

@@marcnotarianni1889Yellow had the cheapest rates of any LTL carrier. It was the only way to attract clients because of their less than stellar on time delivery performance. It definitely wasn’t corporate greed.

[@marcnotarianni1889]

@@mapguy32 where did the 700 million federal money go?

[@TheDudeAbides337]

@@marcnotarianni1889 Probably to pay some dudes cocaine bill.

[@davidarnold9034]

I feel bad for the drivers but I’m happy to see Yellow finally get what’s coming to them. In 1990 I went to a school to train to be a Yellow driver. The week before we graduated they told us there would be no jobs for any of use. They then told us they would help us find jobs. That didn’t happen. I think they should have reimbursed us for at least some of the money. They were a very dishonest company.

[@Threedog1963]

Yellow trained you, or a driving school did? If Yellow trained you, they charged you to train? Should be illegal if thy charge and not guaranteeing employment. I can see an independent trucking school doing that though.

[@Joel-f1s2x]

I started for yellow in 88 yellow didn't have a drivers school then

[@ryanbloom7]

How do they mismanaged 700 millions dollars??

[@sithraeil]

same as 700

[@joes7028]

Well the CEO puts about 100 million in his bank account then the rest of the executives do the same

[@coffeecup3177]

My guess is making payroll. Paying the Health Insurance Premiums for all employees with the Exception of the last 2 months for the union employees. Supporting the 401-K program. PAYING EXISTING DEBT PAYMENTS that were due, Paying 25% of the their legacy costs involved with the old Central State pension plan. Paying the vendors who provided fuel, spare parts, toilet tissue, hand soap. Replacing some overused trucks, trailers and forklifts that could no longer run. Paying lobbyist, lawyers, consultants and finance reports as they struggled to raise additional dollars or find buyers to bail the firm out. General operating expenses.

[@PainfuelProductions]

@@joes7028 bonus then shut it down a year later

[@TheFrenchPug]

I'm sure the executives cranked off their bonuses before shutting it down.

[@terrylopez5981]

My retired husband was a union worker. He did city and over the road driving. When it was time for him to retire the retirement he payed in was said to be gone. If not for the union we would be in trouble. No union is also the reason,so many companies get away with low pay and terrible benefits. This is because companies always blame the union. The younger generation believed that and this is the consequences. Not so many jobs don't even pay the cost of living. Until this generation gets it and the union is back, it isn't gonna get better. For all the employees loosening there jobs, I wish you the best of luck. My husband worked for 2 companies that just shut the doors. One opened up again under different name and no union, the pay is so low they can't keep employees. The government needs to stop this and they need to demand repayment of loan no matter what. It should not be allowed to be included in bankruptcy, for everyone eles to pay while theese companies walk away with billions. Some of the biggest business are the things in our pockets. To all Yellow employees, good luck and God bless you and your famialys.

[@fellspoint9364]

You know it , Terry. The corporate propaganda has demonized union labor and now there is no working class. Hopefully this generation will wake up and realize that work by contract with good benefits beats “at will “ labor any day. There is power in collective bargaining. Don’t let the corporate propaganda fool you.

[@davidb.turknett4447]

Awesome that the union saved your husband. I personally have two union pensions from the Laborers and operating engineers. Private company's can't compete with good union benefits.

[@johnbrevard5966]

Unions ruined the industry

[@wlonsdale1]

Unions are also the reason for high prices and why companies go out of business.

[@highwayred480]

34 years with yellow and don’t know what I’ll do without a job 😢 I’m devastated right now but gonna do what I can to make a living 😢no other option

[@swervsplatt9672]

You can't find another trucking job with 34 years experience?....

[@kyrosdartanian3041]

​@@swervsplatt9672 he started driving 34 years ago his best driving days are behind him

[@warfarenotwarfair5655]

Tons of trucking companies will hire you.

[@wvjeepguy8178]

Come to the Mountain Valley Pipeline project. We need drivers badly!

[@TrumpIsrael2024]

Dude, every trucking companies is hiring since I've started in 2006. Unless you're a really bad driver with lots of accidents, or criminal history, anyone & everyone will instantly hire you.

[@rufiorufioo]

Meanwhile the upper echelon cooperate players cashed out the stocks before it crashed. 30k drivers out of work.

[@princegroove]

You can thank the Republican Party for not backing the American worker. 🇺🇸

[@JohnPublic-dk7zd]

That's rich...the communist democrats the problem, get your mind right...

[@darwinjina]

@@princegroove what did congress do? Were you expecting a bailout like Silicon Valley Bank or the others?

[@princegroove]

@@darwinjina This isn’t an isolated incident; it’s the greedy and insidious traditional values of the GOP: gross old perverts, that have failed the American worker yet again. Remember when that d-bag of an Orange Man allowed Harley Davidson to go overseas with no regrets? 🤡

[@gordonbyron5145]

Bet they paid themselves huge bonus out of that bailout. This is republican economics at its finest

[@ronnieam33]

All top management got their huge bonus before they went under!

[@sawyer4981]

Why do we bail out private corporations? There are no circumstances when this should be done. My tax dollars should never go to keep a business alive that cannot sustain itself. Those businesses are not giving the citizens any bailouts when we come upon hard times. If there are more bank bailouts I firmly believe there will be riots that make BLM riots look like child's play. People are sick of our money going to these massive corporations when all they do is give it to their executives and continue making the same mistakes that screw over the general populous.

[@PhilMoskowitz]

We bail out companies because they are the ones who provide jobs.

[@cejannuzi]

The US government subsidizes and bails out those who have the political connections to DC.

[@HKim0072]

Generally speaking, it should be done lightly in key industries. It's a systemic thing. Can't let the auto industry fail in '09. Also, it's a geopolitical thing. Can't let China take over any key industries (if possible). SpaceX and Tesla were both funded by the US government when they were floundering. Sometimes it works. Sometimes it doesn't.

[@classicxl]

No shortage of drivers but a huge shortage of well paying jobs . In my market local driving gigs only pay $25-27 a hr

[@lynnamarsh6384]

using their truck or yours ?

[@swampfox5660]

​@@lynnamarsh6384 That is a great question.

[@PainfuelProductions]

that's a pretty high wage when compared to people who even have college degrees don't make $25 an hour in some cases

[@swampfox5660]

@@PainfuelProductions I want to trade school and made very good money. Way better than $25 an hour.

[@mannymm7887]

@@PainfuelProductions 25 an hour is bare minimum for college graduates after a few years of experience💀 who told you it wasn’t? Even coal miners make upwards of 35 an hour.

[@timeforbeans]

My dad retired from Yellow Freight...after 20 years of service as a Teamster member working for Yellow. So sad to see this happen.

[@dangeroreilly2028]

hope he had 401k rather than fixed benefit plan

[@Threedog1963]

The bankruptcy gonna effect that retirement check?

[@dangeroreilly2028]

@@Threedog1963 It could, depending on who owns the retirement plan.

[@jilpok1074]

Dang! They cashed in on that taxpayer money and ran! Mofos….

[@skysurfer9655]

I used Yellow just one time. They damaged the item and refused to pay for it despite the fact I had before and after pictures, plus the driver's admission that he saw it get damaged with a forklift. Sorry people lost their jobs, but Yellow sucked as a company.

[@tmacs311]

Great news report . 100 percent spot on . Thanks .

[@davidcalhoun3235]

CEO making millions of dollars a year while the company has to go out of business.

[@wendy833]

Almost 30 years ago I worked for The Guardian Insurance company. Like Yellow, it was top heavy with Presidents, CEO's, VP's, etc. They got rid of medical claims by sending it overseas. The 3 story building I was in and the separate building for dental claims are gone and about 50 or less people work there. They sold the building and settled for cheap labor. Those upper crusters never decreased their pay or bonuses, you can bet on that.

[@MrMagnificent321]

Stop saying it’s a shortage of drivers. A lot of people have their cdl but the rates are in the dumps and that’s why everyone is leaving the industry.

[@codemang87]

Well, I can see why they are shutting down. I certainly wouldn't hire someone who can't label colours properly. Would you?

[@stacywest3982]

That’s because they merged with Roadway which had orange trucks. The rebranded as YRC- Yellow Roadway Corp.

[@codemang87]

@@stacywest3982 so what you're saying is: they had a chance to fix their mistake and they just doubled down instead. Fyi.. I was only making a joke.

[@nathanurick8320]

Just poor management,

[@myst3rychic]

My Dad worked for NationsWay when Jerry McMorris(NW OWNER) closed doors. HE too got a big bail out from the feds years before. He also owned and STILL owns WestWay(his non-union company)!! He said that TOO many NON-Union companies were taking his freight!! BS. He moved ALL his assets to family so that the courts would not use for paying drivers their wages and the cost to get each home. He filed for Bankruptcy after closing doors via New Mexico(place where his Non-Union company was registered) and PURCHASED the Colorado Rockies Baseball Team!! 2 others are barely co-owners!! WHAT is Yellow Trucking Owners doing?? I BET the same. Hiding their assets and claiming they have NOTHING b4 closed the doors!! PATHETIC!!!

[@elosogonzalez8739]

DECADED OF GROSS MISMANAGEMENT IS WHAT DID YELLOW IN! Mentioned in the video was the 700 Million dollars from the U.S. Government. What wasn't said was WHERE DID THE OVER 3 BILLION in concessions from the Teamsters go! IT'S OUT AND OUT THEFT! THE LAST THREE CEO'S RIPPED OFF THE COMPANY!

[@akui88]

The thing is many of these worker lost their pensions.

[@boristheamerican2938]

No one has pensions anymore.

[@akui88]

@@boristheamerican2938 they did at yellow…

[@steverinaldi890]

Was CF, Yellow and Roadway. I was with NW Transport which became NationsWay after the LTL strike. Anyway-all fall pray to the deep discounting which is just cyclical in this industry. And there isn’t a “shortage”. Simply shortage of decent jobs.

[@wardaddy6002]

That's what happens when you have yellow writen in orange.

[@MAXIMUSMINIMALIST]

The trucking industry HATES us drivers. I could give countless examples of why but I only need to give one: FLEET TRUCKS that are basically TORTURE CHAMBERS!!!

[@MrJruta]

My mother-in-law just lost her longtime job there as a dispatcher. She’s so upset 😢

[@MariellaPope]

My husband worked for Yellow for 36 years. So sad for yellow. He loved the company

[@YoDawg-v6l]

Since Yellow received the $700 million bailout loan i would like to see an audit on the Yellow payroll for everyone including executives and board members. I bet the executives received multi million dollar payouts every year

[@erikzornes4183]

Swift and Western Express are hiring

[@jasonjennings3382]

All those drivers need to go to Estes. It's the best LTL on the planet. I quit Estes years ago and have regretted it everyday. I can't say a bad word about Estes.

[@DistrustHumanz]

How much of that $700 Million taxpayer money did Yellow use to buy up other smaller trucking companies? We know they did, we just don't know how much. That would be the answer everyone is looking for.

[@norm2264]

I wonder if sleepy Joe and Janet Yellen is going to blame Trump for this also

[@ROBATORE]

Build back better! We did it Joe!

[@darrylholcomb9076]

Jimmy Carters deregulation act he signed into law in 1979, set in motion the eventual demise of union trucking, & made trucking the slave labor job it is today! That's why there is 100% turnover in trucking, drivers have to quit to get a break! Yeloow was a quality of life job where drivers had it good,. Now its gone!

[@willieverusethis]

Yep. And Reagan finished the job in the other industries.

[@darrylholcomb9076]

Reagan could have at least tried his best to overturn deregulation but I don't remember him even trying. Fact is no President since Kennedy was his own man, all were & are (except for Trump) controlled by the Globalists in Europe. Eisenhower warned of the Military Industrial Complex, & Kennedy 7 days before he was killed declared his intent to expell it from the country. It's also why they're after Trump. Their plan is to take over America & include it in the One World Government, prophesied in Revelation, & their near to accomplishing that.

[@trainfan4evermiller721]

the government needs to to do a full forensic audit on yellow corp. not only for the tax payers money but the Billions of dollars that where given back to the company through concessions from it's union employees ! I believe we as employees that made these sacrifices have a right to know .

[@michaellake5269]

Thank you, Todd Spencer, for OOIDA and the truth.

[@elipuebla2537]

Big deal ,the government could have given them more. THATS PEANUTS COMPARED TO ALL THE UKRAINIAN MILITARY AID..

[@travisjones7751]

I wanted him to admit that, Trucking companies doesn't PAY drivers enough!!!

[@tonygarrett9115]

This old timer failed to disclose the real issue. That's pay! It's pretty simple. If you pay owner operators, especially or company drivers, what you should, the turnaround would be less.

[@vermontjeff2535]

I’m sure the union had a helping hand to end the deal .

[@1001Roxie]

I sure hope the drivers can find other work and make even more, as for Yellow this is a mess. So many companies are going to go insane the next few weeks if not longer. You have expected Po’s due in for back to school/ Halloween/ furniture you name it. This is going to have a HUGE RIPPLE

[@pointnIaugh]

They will. My company did this a few years ago and every company in the United States offered me a job. I was employed 3 days later.

[@amandahawkins2631]

There's plenty of good jobs for the drivers. I'm more concerned about the office staff.

[@rrios283s73]

True

[@thefix2573]

True, Driver's have a skill to rely on, office people kind of slink their way into a position where they sit and do Facebook & shopping all day...hard to market such skills.

[@amandahawkins2631]

@@thefix2573 if you sat in a Operations and Dispatch department at a transportation company, you would have high anxiety and want to cry by hour two. On the flip side, dispatchers should also have to go out in a truck for a day with a driver, they would have a LOT of appreciation for them afterwards.

[@MAXIMUSMINIMALIST]

The trucking industry used to run the trucking in the street and then starting in the early 80s slow transition to what we have now which is why trucking is ruined… CUSTOMERS run the industry!! This is one reason us drivers are treated like 💩!!

[@Jose_Jimenez]

I wonder if $6.00 a gallon Biden diesel was a factor.

[@myst3rychic]

Same BS excuse by owner of NorthWest/WestWay used!! cost SOO many employees their homes etc!! Jerry McMorris got a bailout years before he closed doors and THEN filed bankruptcy after moving his assets around to pay for HIS part of Colorado Rockies Baseball team!! What is YELLOW's owners doing this for?? WHO is their non-union company?? WestWay & Owner Operators was Jerry McMorris's side hussell!! My Dad was among the drivers who was forced to find ANOTHER way home after delivering trailers to 1 of the NW yards in NEVADA. We lived in Colorado then!! I have NO doubt that the owners of Yellow has moved their ASSETS to other family members so the COURTS can't find them to PAY all those drivers who probably had to find their OWN way home!!

[@MetalMusicManiac]

Diesel price gouging hurts us big time

[@HerbertAtkinson]

Let's not forget that it wasn't just Yellow it was Roadway too, they merged few years back as one company "YRC" yellow roadway corp..

[@stevef68]

And Holland

[@improvisedsurvival5967]

And new penn

[@HerbertAtkinson]

@@improvisedsurvival5967 new pen, holland, viking was sold off by yellow long back.

[@improvisedsurvival5967]

@@HerbertAtkinson yellow bought new Penn and tan it into the ground I know cus I got hired at new Penn and yellow finished us. I said our manager was the closing manager and I was right

[@TheFrenchPug]

Roadway was our replenishment transporter to a nationwide retail company. I'm not there anymore, so I wonder who it is now?

[@phillipstephens3079]

Say what, “work weeks quite frequently 70-80 hours”… maybe for non-drivers. In most states, drivers hours behind the wheel are regulated…

[@john65645]

My Mom Has been retired from Yellow Freight for 32 years. Being a Teamster has helped her have a nice pension and medical and she's made it to 94 and still going.

[@flat6fever680]

My brother drives a north east route every night. From Enola Pa train yards into NYC. He's good at it and cut out for it but complains about the car drivers being so selfish on the roads. He basically hates it. My wife's brother tried driving and didn't last 3 months. Missed being home on Saturday's like they promised him because if he was over his hours he couldn't drive and his work week would always roll over into the weekend. He burned out almost instantly. Couldn't hack it. Several small accidents in parking lots as well. Trucking chewed him up and spit him out.

[@TrumpIsrael2024]

Everyone can ride a bicycle, but we're not Lance Armstrong. Same for driving vehicles. Your wife's brother should stick to working in a grocery store or a desk job, or else we'll see him on idiot fails on youtube.

[@robertaftrimmer4949]

30,000 out of work ... 😳

[@jonathanwbecker3073]

Thankyou Sir for telling it like it is 30 year driver.

[@chesshead3943]

Could any of this have been Union related? Did union bargaining drive this company under?

[@willieverusethis]

The union has been making concessions for years to keep the company afloat. The big problem is that all of the carriers need to be unionized for the workers to make a living wage. A unionized company can't compete with carriers that pay their employees very little and offer no benefits.

[@tessietesoro7407]

After receiving millions in bail-out money, it proclaimed bankruptcy?

[@tooge47]

there's a HUGE difference between a truck driver and a steering wheel holder

[@grizzstud22]

Corporate workers should be charged with fraud tbh

[@chrome2infinity938]

For what?

[@califreedume]

I was not fired, I was laid-off.

[@daryljacobson7462]

I am sorry for all those 30,000 people who will lose their jobs, but it doesn't surprise a bit. In fact I'm surprised it didn't happen ten years ago. My publishing company had to dump them and move on to another carrier. Here in Washington state, we were seldom notified freight was ready for delivery and in a few cases we had to come and pick it up at the freight yard after being told it would be delivered to our place of business.

[@petercarmeci8317]

I worked there until 2018. Their biggest in the coffin was them purchasing Roadway Corp in June of 2003 and taking on their debt as well. They shoulda let them go under.

[@Jen-e-sis]

Watch this will happen to a lot of our truckers this year

[@rayray8687]

That’s true, and as always better managed companies will take over.

[@princegroove]

Stop fear mongering, clown.

[@Jen-e-sis]

@@rayray8687 it goes much deeper than that, it’s a combo of the economic struggles and shut downs and wage issues because the economy sucks right now, not to mention the food shortages happening, a lot of shipping and transportation companies I feel will find it hard to even be kept in business. The world Wef and world health already told humanity there would be mass shortages of food this year and grain harvest due to the global war in Ukrainian and climate change. Everything is connected.

[@nancychace8619]

Wonder how much of this might be due to changing dynamics of shipping with respect to Amazon and the like?

[@JohnPublic-dk7zd]

The freight still has to move...I doubt you have your own personal railroad siding in your backyard...Amazon has a lot of trucks moving their stuff, but it is companies like Yellow that are delivering/picking up the stuff that makes the products...

[@NtDs90]

Amazon is full truckload and mostly consumer goods. Yellow was Less than truckload and more commercial/industrial products. Different types of business services. Plus Yellow was going to shit over a decade ago. Before Amazon was a company.

[@maggiemae7539]

The post office is delivering for Amazon.

[@stevenlee713]

I am currently sorry 😐 with no money

[@richardhenry5961]

All the Executives, CEO need to have any & all compensation seized. Bankruptcy; I really think that the Teamsters & Members have an opportunity to make YELLOW an Employee Owner Business & save jobs & working families.

[@josephmann4236]

When the demand goes up for delivery , the price goes up on everything related to trucking .

[@NsyShwl]

Seems like they took their payout before they bailed out 😅😅

[@myd0gr3x]

this was a 22 year Bain Capital style destruction, YELLOW destroyed Jevic, Preston, Roadway, Holland, Reddaway, New Penn, and Yellow...

[@arturopalos2739]

The owners and fixed stockholders made the profit. They just took the money and ran. Very fast. And broke the 100 year old company.

[@phillipdewitt4454]

The dock workers,clerical staff and mechanics will have a unfun time adjusting to a new low paying Bidenomics job. Drivers will find work but with a pay haircut. I was a supervisor with Roadway and Yellow for 33 years and it gave me the opportunity for a good retirement. I hate it for the employees.

[@willieverusethis]

It was Reagan who deregulated the industry and started the war on unions. The decline started in 1980.

[@SamieMac1]

Everything that's wrong with that company can be summed up in one word. "Union." The trucking industry is booming. There's more demand for truckers than ever before, and yet the union prevented that company from being competitive every step of the way. Tragic.

[@bwofficial1776]

Whatever happens, the union always gets its cut first. Unions served a purpose 100 years ago but now that everything they fought for is law they've become corrupt and outdated. You can bet that the union bosses got a healthy check out of this.

[@warfarenotwarfair5655]

​@@bwofficial1776The unions are the ones pushing it to become law. A lot of unions come about due to mismanagement in the first place. Union workers tend to seem moronic and entitled because a loud minority of them feel untouchable but running the company in the ground is simply mismanagement.

[@samrock7632]

I guess Yellow is going to follow the same downhill slide into obscurity just like Garrett Freight line several years ago.

[@EvoSGooD]

I saw this coming a while ago. They rates were too cheap, and paid their drivers too much, added the union. Math didn’t add up.

[@ericgattis2279]

I know a man who has drove for yellow for 42 years. 1st and only job ever. Just got fired and he is lost....

[@knucklehead7456]

Yellow Freight 511, Dallas, Teamsters Local 745

[@Camdazny7]

700 billions!!! Down the drain and 30,000 lost jobs. How about giving that amount to small businesses.

[@GH-oi2jf]

The bailout is a pittance compared to what the United States has been giving to Ukraine.

[@daveriddlelin9327]

Fjb

[@amc3463]

Trump already gave them 700 million in stimulus money 😂they blew it they deserve to be out of business. Stop blaming Biden for everything cry baby

[@ann6770]

Why does Yellow Corp deserve a bailout at all when their yearly revenue was $5.14B. They are screwing over their employees, taking a huge profit and running. Blame the right people for once. Corporate greed is at an all time high right now.

[@foghornleghorn8536]

So you're a fan of a Putin. Always easy to spot MAGAts.

[@TheFrenchPug]

Precisely!!! We're delivering trainfulls of cash to Ukraine yet 30k people are now out of a job due to piss poor mgmnt and our president.

[@GH-oi2jf]

With bankruptcy enabling the termination of union workers, they may be able restart operations. There should be new management as well, though.

[@Michael420-mh7dd]

That's probably what will happen it will reopen under a non-union. That's what happened with the company I work for until 2012. Hostess Brands reopen the year later non-union

[@CRTLALTBACKSPACE]

I can’t stand seeing truck drivers being treated like shit! 😡

[@PCTC47]

70% unionized. . . Consider our options.

[@cintroberts6614]

They treat truckers like 2nd class citizens. The tax payers again are going to pick up the bill.

[@VanD1961]

30,000 Drivers That’s just one State? The numbers don’t match?

[@anthonyrose6686]

The trucking industry has been under pressure over the last year from rising interest rates and higher fuel costs, which it has struggled to pass on to shippers.

[@williea6319]

I walked out the door on vacation in 2010 and never went back

[@brianmeek5236]

Kind of like sears, the real estate holdings of Yellow is worth billions, only hope a bankruptcy judge will look out for the creditors and employees

[@markmedley6849]

They can open as nonunion and call themselves Green Freight.

[@hesstribe]

30,000 union jobs gone and neither side was interested in helping those union jobs. They kept dragging everything on and on and on the merger was supposed to happen in 2020 it still has not fully happened and this is what happens when higher ups on both sides don’t care about their employees.

[@improvisedsurvival5967]

My local only cares about ups and the hospital workers. They made it clear yellow drivers weren’t their bread and butter

[@bwofficial1776]

The union bosses only care about their paychecks. Unions have become corrupt and outdated. They're no longer needed now that everything they historically fought for is law. Break up the unions and let the workers stand on their own. Good workers will be rewarded, bad workers won't be workers for long.

[@MicheleEngel]

Please note the revelation that a 1980 DEREGULATING the industry is to blame for this company's failure. Yes, you heard that right. There are good reasons for most regulations. Like prevention of and protection from calamities like this.

[@Sampson-w3n]

Don't tell that to NewsNation viewers, they are brainwashed by the GOP to keep the rich rolling

[@willieverusethis]

Exactly. Same for just about every other industry in the country. Worker pay has been stagnant since 1980, and with most unions busted, there's no one to stand up for the worker.

[@dragracer4775]

Fired is a harsh word. These people lost their jobs because the company went out of business. Sad.

[@theswampfisher3253]

Higher fuel prices, high parts, prices, or parts and stuff come from China and everything. Now there’s tariff on us

[@erichughes8723]

And for someone who started a box truck company 2yrs ago insurance cost! There are so many different cost factors that you never hear about when starting a trucking 🚚 company. The government is always willing to bail out the big companies but kick the little man to the curb.

[@josephmann4236]

I’m sure , UPS andFed Ex and The USPS have a lot to do with this , from being competitive in delivery and prices . Also COVID and diesel prices didn’t help either .