Yellow Corp. tells sales staff company will file bankruptcy, Freight Waves says

Yellow’s senior vice president of sales informed her staff on Wednesday that their last day would be Friday and the less-than-truckload carrier will file bankruptcy on Monday, according to Freight Waves’ Rachel Premack, citing three employees who attended the call. In a meeting later Wednesday, according to a video of the meeting viewed by FreightWaves and two employees present, the senior vice president told employees to backtrack on the bankruptcy statement. She said to share the following statement – “Yellow’s talks with the IBT are ongoing. As previously stated, and in keeping with fiduciary responsibility of the company’s executives, the company continues to prepare for a range of contingencies” – which is the same statement a Yellow representative shared when FreightWaves reached out for comment, the report said.