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Yellow halts nationwide pickups amid strike threats and declining shipments.
Yellow, the freight shipping company, is reportedly limiting pickup operations nationwide. The decision follows a significant drop in shipments due to the threat of a strike. In an internal memo leaked to FreightWaves, the company said that it is focusing on delivering existing shipments and ongoing communication with employees amid union discussions. Employees revealed that Yellow ceased pickups in the Northeast, Ohio, California, and Texas.
Customers have been pulling their freight from Yellow amidst bankruptcy fears. Yellow has been financially struggling since the Great Recession, and according to a Morgan Stanley survey, 97% of shippers working with Yellow are considering shifting to other companies.
Source: FreightWaves
Most don’t understand how YUGE this is, people in logistics do. I own transportation company over 20 years (longer than I trade) has been worst year in transport I’ve ever seen but this if goes to cleaners is big supply chain mess. Largest LTL carrier in USA , Walmart, Uber… https://t.co/zjgzPy57LK
— K.I.S.S. (@KISS_RHINO) July 21, 2023
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