Yellow Freight layoffs in Kansas City-area, bankruptcy preparations

Trucking firm Yellow Freight is reportedly planning to file for bankruptcy, resulting in 22,000 job losses.

Yellow Freight, a major trucking firm, is reportedly planning to file for bankruptcy protection, leading to the loss of jobs for thousands of employees nationwide. The company, which recently moved its headquarters from Overland Park to Nashville, still employs nearly 1,000 people in the Kansas City area. In addition to union workers, non-union employees are also expected to be affected by the bankruptcy. The news was delivered to employees in a conference call on Friday morning. Yellow operates two trucking terminals in the Kansas City metro area, and there are reports that employees at one location have already been sent home. The decision to file for bankruptcy is believed to be linked to contract negotiations with the International Brotherhood of Teamsters and the loss of customers due to an ongoing labor dispute. Reports suggest that Yellow failed to pay for employee healthcare benefits in July and was not planning to do so in August. Employees expressed disappointment in the lack of resolution between the labor union and management, emphasizing the negative impact on everyone involved. Despite attempts to contact Yellow's corporate communications team, there has been no response.