Yellow Corp. today laid off a large number of workers as the company deals with a liquidity crisis and weighs options including an imminent bankruptcy filing, Paul Page of Wall Street Journal reports, citing people familiar with the actions. The layoffs included members of the company’s sales force, business operations and technology department, sources told the Journal. Yellow’s unionized drivers and freight handlers weren’t part of the layoffs, the people added.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on YELL:
- Yellow Corp. is engaged with parties interested in sale of Yellow Logistics
- Yellow Logistics, a Third-Party Logistics Broker and Subsidiary of Yellow Corporation, Flourishes as Shippers and Vendors Turn to 3PL Logistics Providers
- Old Dominion price target raised to $408 from $317 at TD Cowen
- Old Dominion price target raised to $470 from $430 at Stephens
- Old Dominion price target raised to $410 from $320 at Baird