Trucking company Yellow files for bankruptcy, blasts Teamsters
Some 30,000 workers at Yellow Corp. are looking for jobs after the major trucking company filed for Chapter 11 bankruptcy protection, potentially saddling taxpayers with losses from a government rescue of the long-troubled carrier.
The nearly 100-year-old company, which halted operations on July 30, has been a dominant player in the "less-than-truckload" segment that hauls cargo for multiple customers on a single truck.
It laid blame for the bankruptcy, likely the largest ever for a US trucking firm, at the feet of the International Brotherhood of Teamsters union that represents about 22,000 of its employees.
Teamsters leadership "was able to halt our business plan, literally driving our company out of business," Yellow CEO Darren Hawkins said in a statement.
Meanwhile, the International Brotherhood of Teamsters blamed Yellow executives for the company's demise.
(REUTERS)
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