Companies Yellow Corp FollowJuly 28 (Reuters) - U.S. trucking firm Yellow (YELL.O) has laid off a large number of workers as the company copes with a cash crunch and weighs options including an imminent bankruptcy filing, people familiar with the actions told the Wall Street Journal on Friday. The third-biggest U.S. trucking company, which has been in ongoing negotiations with union of Teamsters-represented workers regarding worker benefits and pension accruals, averted a threatened strike on Sunday. WSJ had earlier reported that Yellow was preparing to file for bankruptcy. Yellow did not immediately respond to a Reuters request for comment. Reporting by Savyata Mishra in Bengaluru; Editing by Pooja DesaiOur Standards: The Thomson Reuters Trust Principles.

Source: Wall Street Journal July 28, 2023 20:36 UTC