Yellow Corp, a major trucking company in the United States, is heading for bankruptcy, as reported by the Teamsters Union and multiple news outlets. The closure of the century-old freight

delivery company poses a threat to the jobs of approximately 30,000 employees.

Yellow laid off hundreds of nonunion employees last Friday and ceased operations on Sunday after a standoff with the union. The Teamsters Union, representing about 22,000 unionized Yellow workers, received legal notice confirming Yellow's decisions.

The company's outstanding debt of around $1.5 billion and loss of customers have been ongoing issues, leading to the looming bankruptcy. Yellow had been battling the union for months and was sued by the Teamsters in June over restructuring plans.

Many union workers expressed frustration with the company, as they had made wage and benefit concessions to keep the company afloat. The Teamsters now plan to focus on helping its members find employment in other industries. Photo by Mark Collins, Wikimedia commons.