Yellow Corp. recently declared bankruptcy
NEENAH – Yellow Corporation plans to lay off roughly 22,000 employees across the U.S., including 261 people from Neenah, Mosinee and other Wisconsin locations, according to a notice filed with the state.
The Tennessee-based freight company announced earlier this month that it had declared bankruptcy, “following
a tense standoff with the Teamsters Union and after a massive pandemic-era federal loan failed to stave off the company’s mounting debt,” USA TODAY reported Aug. 7.
Yellow Corporation and its operating affiliates — YRC Inc., doing business as YRC Freight; USF Holland LLC; New Penn Motor Express LLC; and USF Reddaway, Inc. — “made the difficult decision” to shut down their regular operations and lay off employees on July 30, according to a letter from the company to the Wisconsin Department of Workplace Development.
The layoffs affect 86 workers in Neenah and 24 people in Mosinee, as well as 151 employees across Madison, Eau
Claire, Oak Creek, Portage and Tomah.
All layoffs and closures are expected to be permanent, according to the letter, dated Aug. 1 and received by the department on Tuesday.
“The Company had hoped to complete one or more transactions and secure funds and business to prevent the closing of these locations but was unable to do so,” the letter states.
Employees are not able to apply for jobs at other locations, according to the company.
Questions about the shutdown and layoffs can be sent to employee.questions@myyellow.com.
“The Company is grateful for your service to the Company,” the letter states, “and greatly appreciates your continued professionalism through this process.”
Yellow partnered with the American Trucking Associations to launch a searchable job database for affected employees, according to USA TODAY.
“It is with profound disappointment that Yellow announces that it is closing after nearly 100 years in business,” Darren Hawkins, CEO, said in a statement Aug. 6. “Today, it is not common for someone to work at one company for 20, 30, or even 40 years, yet many at Yellow did. For generations, Yellow provided hundreds of thousands of Americans with solid, good-paying jobs and fulfilling careers.”