One of the country’s biggest trucking companies, Yellow, is shutting down, potentially leaving 30,000 employees out of a job and costing taxpayers hundreds of millions for the money the company received during Covid. NBC News’ Tom Costello has more details on the trucking industry’s biggest collapse ever in the U.S.
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#NBCNews #Yellow #Trucking
Lol 😂 another company killed by the union. Same thing happened to my previous job. Luckily I don’t have to worry about my new job due to no union.
Great news, atleast 1 million jobs should be gone in the next 2 months
My aunt got fired and the way they let the employees know they don’t have a job anymore. It was by locking the door and not letting them in the office at all.
Rich gotta rich. Poor gotta serve and suffer. People need to stay in their lanes. 💪😎✌️
Thanks Obama
Why cant the union buy the company and keep going ? Imagine working you whole life and now pension gone? Bidens America. It sucks .
Biden supports unions. I swear, you MAGA morons always vote opposite your best interests.
Another big heist of tax payers money.
union is as much to blame as the company….sorry there r
I’m sure Trump and yellow executives pocketed millions from our stupid tax payers. Congratulations .
I wonder what Don The Con’s cut was.
So it will just be nationalized. Easy day
LOL, Trump and his corrupt friends drained government $$$ during the pandemic.
How is union to blame? 2009 teamsters agreed to 15% pay cut, have 1 week vacation taken away, and agreed to only 25% to be contributed to pension fund. It wasn’t till 2019 that the 15% pay cut was given back and still it was 5$ an hour less then other companies. Yellow also received 700 million dollar loan from the gov. and Hawkins is blaming union. While this was happening he and all upper people received raises, and bonuses. Hawkins had plenty of opportunities to fix this mess and he waited till it was to late to do something. I hope that he will be forced to appear in front of a congressional hearing and answer tough question about the 700 million dollar loan.
Union workers think they own the company.
Unions support Democrats. Democrats are destroying the economy. Blame yourself. Bad economy means low freight rates.
Biden’s great economy, are you still voting for this?
If company just close and worker lost their job then too bad. But if company tried their best to keep worker still have job buy cut off some bonus and halt salary raise but workers strike and demand salary raise anyway and company must close for that then worker totally deserve to lost their job. Greed and untrust make them lost all salary and bonus.
Where did covid come from? That question has never been answered
Yeah ceo got their hands on that money
Another pension grab…
Bidenomics is working so well for everyone…
The greedy rich strike again
Welcome to America!
On the west coast every other truck is advertising for drivers. So these people will find a job, probably not a cushy union one though.
Blaming Unions and the workers then shutting the company down to punish them because you can is a very Republican thing to do.
AOC killed thousands of Amazon jobs in NY, she’s very republican..
Ok yellow truck drivers . Start looking for other reputable companies to go work for . Or , start your own company with the 30% share holders on your own ,with the Union backing you for fair wages and some kind of retirement for yourself.😊
Another great investment by Donald Trump and the U.S. Government. Taxpayers now own a bankrupt company. At least the CEO will be fine.
Or AKa rich ceo refuses to give up some money
You all ready for them foreign boots?
Hawkins made $2,118,469 in total compensation. Of this total $1,100,000 was received as a salary, $893,369 was received as a bonus.
I’m sure the executives won’t be turning in their yachts and third and fourth homes
Yellow was poorly managed. Top management’s compensation packages should be looked into. You shouldn’t be rewarded for running a company into the ground.
The American dream – I bet the execs got their fat bonus checks
First of all I won’t tolerate any horse’s butts who try to blame the TEAMSTERS…..Yellow’s Takeover of ROADWAY was a terrible idea. Even so, they likely still could’ve payed such off, if they invested in the Company and not the Lining of Executive’s Pockets. Big Surprise !
Layoffs in big tech, companies declaring bankruptcies, Homeless camps rule city streets, drug addicted zombies in every major city, SF streets void of businesses…Bidenomics is really working out.
THE CEOS AND MANAGEMENT DESERVE PRISON TIME FOR TAKING THE $ FROM TAX PAYERS!
This happens when labor unions put too much stress on a company instead of trying to work with them. This should not be a surprise. Look what happened when union auto workers did the same thing. They found that many of their jobs were replaced by more dependable and harder working robots. The truckers don’t know how good they had it, until they lost it.
“Thems is the breaks.” –Boris
no future is 🇺🇸future😂
Got 99 years, but not this one. 😂
AI and automation will take over your jobs. Unionized companies can’t compete with automation. Retrain yourself ang get new skills.
doubt it. im not worried til ai knows how to unclog my toilet. til then we will need blue collar jobs
All the Executives, CEO need to have any & all compensation seized. Bankruptcy; I really think that the Teamsters & Members have an opportunity to make YELLOW an Employee Owner Business & save jobs & working families.
Another win for the Democrats. We need to get rid of all these evil corporations.
But what about those 30 thousand folks who lost their jobs?
Never mind that…the evil corporation is GONE!!
Where is the 700 now ?
I have no sympathy for big companies going out of business. They exploit owner operators and small fleet. I can’t wait to see Brokers like TQL goes out of business as well.
My sympathy for all employees that lost their jobs and benefits. “Downfall of a man is. Not the end of his life” be strong 💪
So basically they got the bag and ran. Sounds like a heist if you ask me.
So sad to see this. I’ve seen so many businesses fail since 2020. I wish the best for employees at Yellow!
Nice going Democrats
Mismanagement is as important a factor as the union.
Yellow robbed US taxpayers of $700M and said “Its the working mans fault.”
When you cant agree with union you shut it down
This company is sad, anyone who has worked here for over 20-30 years will not have a pension anymore,
replace them with driverless trucks problem over
It died in 2008 and the rest was a kind of pantomime for children. They just humored them or indulged them for 15 years. Should have closed on the spot in 2008. Those guys in the room are literally arguing over a dead body. Like ”Weekend at Bernie’s.”
And you wonder why crime goes up in America. We just supposed to starve to death while millionaires don’t lift a finger…?
ask DJT
don’t worry about the 30000 truck drivers who got layoff,
Fed Ex and UPS will hire most of them.
No they won’t! Yellow drivers are to old and to fat!
We owned 30% of a trucking company y’all, I did not know that!
welfare for the MAGA crowd
Yellow=orange
Good,let them go get the lucrative jobs their president promised building windmills/solar panels….
bidenomics , thanks joe
Medical health care/green deal costs are what caused it….Democrat…Much worse coming….Nobody can afford it
All of these supported Biden,this is what he gave them….
Who gave them 700M in PPP loans, say it loud for the people in the back!
Still waiting for the Sam ftx boy video. Dropping charges seems not good right ? 😉
Trump 2024
Trump gave them 700M in PPP loans, how did that work out?
Are you still voting for this?
700M in loans down the toilet, who gave them that?
Yep
I paid my last bill overage last month
In the trucking industry you can quit today and get a job offer the same day. The pay just won’t be the same or you’ll lose out on benefits and PTO but it’s the name to the game. Trucker are a dime a dozen
Of course it’s Trump’s fault…..
Haha that’s what you get for not hiring me 😂😂😂
They didn’t tell us, they just chained and padlocked the gate. They, Yellow made it a distasteful toxic place to work for the last few years anyway out with the Old hello something new!
They knew this over 2 years ago they told the mechanics to use company tools what does that tell you all personal tools needed to go home
Mechanics who knew what that meant left the company then
Sucks for the employees but I call the blame on management and the union.
Cost of an employee on average is 1.15-1.3 times the salary. When an employee is part of a union the average cost is 1.7-2 times the employees salary. So my question is if the company is going under how is the union not able to take care of the employees for at least 6 months to a year?
If management saw issues in payments they should have had layoffs which is unfortunate but is part of the corporate world. Not sure if the union had a part in that as well as it’s hard to fire someone when they are part of a union.
It’s sucks because unions destroy the bottom line for companies but are needed because corporations take advantage of employees.
Well the downsizing the economy is going as planned. Maybe Americans won’t fall prey to leftist propaganda and will vote accordingly. Provide your vote actually means something. Enjoy the recession the left is bringing you!
Swift is gonna go next ..but yellow was not have been seen anywhere in years .. like they used to in the 90s
I wonder how much trump put in his pocket for approving the unnecessary 700 million yellow got from the taxpayers
I was coming into LA by train and as the train passed San Bernardino, I saw hundreds and hundreds of 40 and 54 ft trailers parked compared to just a handful 4 years ago. I think we’re really seeing the fallout from the Covid pandemic.
Bidenomics in work, Socialism will fail America that corporate corrupt media in collusion with democrat political party promoteing.
Tax payers own %30 of the company….
I love it when the MAGA crowd lose their jobs! Guess those old, fat, white men will have to apply at Walmart to be a greeter🤣🤣🤣🤣
All of this under the Biden Administration…!
And Trump sucks too ..!
Now what…😠!
Unions. Meant to be good but have become bad and a detriment
Wow ya ok so there are many jobs im electrician working concrete, build American, go do something, yellow freight sucked anyway. Dirty, late, broken, alot of logistic jobs needing people
Lol, they still managed to make this story a Trump story. Hillarious.
There better be some criminal charges for fraud and embezzlement for the owners/CEO of this company
So much for the union
Trucking industry shouldn’t have any unions to begin with, I say let the rest of the union truckers go under. Between them and the illegals, they killed the trucking industry. Been an o/o for 19 years and the teamsters are about useless, like every other union job. If you want to be communist, then go to a communist country, where unions belong
This is what happens when you vote for Biden
Imagine that nbc!!NBC!!! It’s Trumps fault, you guys are PATHETIC!!!!
Just one of which the corrupt powned media covers, this isn’t the end nor even the beginning of the end, but at least it is the end of the beginning.
I used to work for this company. Dodged a bullet there i guess.
🤣🤣🤣🤣
that’s a lot of unemployed truck drivers. Conversely, firefighters are in high demand, and there probably won’t be enough of them this year. It would be neat if firefighting was a privatized entity (of course backing city fire departments and volunteer fire departments)………that way, the tax burdens aren’t solely on the taxpayers, yet there is always job security for putting out forest fires. 🤔
I guess voting Democrat didn’t work out after all
Biden-omics at its finest….what a great job he is doing! 😂
I blame the American government the truckers have been protesting for several years bur everyone has ignored them dont be surprised if other large trucker companies falls. Remember the trucker protests from covid that went across America
Here they go. They’d rather shut down than support unions
See what happens when the federal government and the unions hold hands?