After 99 years of operations, major U.S. trucking company Yellow closed down for good on Sunday.
The company informed customers and employees of its decision via email and is expected to file for bankruptcy before selling off the business entirely or in parts.
Yellow’s finances were reportedly plagued by stalling negotiations with the Teamsters union and a high debt-burden from repeated mergers.
The shutdown puts 30,000 of Yellow’s jobs – which includes 22,000 Teamsters – in the crosshairs.
