YRC In More Trouble

I have a feeling the government will bail them out again since it involves unions.

"The government" doesn't rescue any of these companies. The US taxpayer does.

I do not think there will be a knight in shinning armor to save them this time, they are 1.5 billion in debt. They can not make their benefits payments, have mostly ancient equipment and most importantly customers have left because they do not want to see their freight stuck.

I hate to see all those people lose their jobs especially with the current market, but it might be time to unplug the life support and let her go.

STRIKE AVERTED AT YRC FREIGHT, HOLLAND

More lives than an alley cat

Can not say I'm surprised, I had a feeling that might happen.

Damage might still be done, lots of their customers have flead already.

I think they used up their last one…

YRC Bankruptcy

Https://teamster.org/2023/07/strike-averted-at-yrc-freight-holland/

More lives than an alley cat

I think they used up their last one…

YRC Bankruptcy

Https://teamster.org/2023/07/strike-averted-at-yrc-freight-holland/

More lives than an alley cat

What happens to the Yellow drivers now?

And how about the new UPS contract. I heard that the full time UPS drivers will be at $49 per hour. Is that accurate?

A few guys I work with used to work for New Penn, who is now owned by YRC/Yellow. They’ve been talking to some of the guys who stayed after the buy out. They are delivering only, no pickups. Trying to clear the dock and call trailers of all freight. Complete shutdown looks imminent.

I’m guessing some Yellow guys will end up at ABF at some point since they’re Teamsters as well. The Union will probably push to have them be hired before new members. The rest will retire or be scattered among the other no union ltl outfits.

I think they used up their last one…

West pension funds was set to expire on the 31st. They did the same thing central did and gave them 30 days.

It looks like Yellow wanted them to strike to avoid the WARN act.

The Teamsters have put the ball in Yellow's court making it their move. Yellow is now looking to gain capital and that's why they backtracked the bankruptcy statement.

You can avoid WARN if you're actively trying to get loans or investments.

What happens to the Yellow drivers now?

Their employment gets terminated.

I’m guessing some Yellow guys will end up at ABF at some point since they’re Teamsters as well.

Hard to say. ABF is currently laying off nationwide. Their contract is also done and I didn't see anything about having to prioritize teamsters. They'd also have to bring back laid off employees before looking outside.

I am afraid most will not be able to find new jobs, at least in LTL. Most companies have capacity to spare right now and probably will not need to take on many new employees.