Inside: FedEx's market triumph, the controversy at Yellow Corp, Waabi and Uber Freight's decade deal, and the hammer comes down on PPP loan-scamming trucker.
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Analysis of TuSimple's challenges in the autonomous trucking industry and FedEx's impressive financial performance surpassing expectations.
Yellow delays final paychecks to its laid-off employees by a day and has $92.9M in vacation pay up in the air after bankruptcy.
Yellow, having recently filed for bankruptcy, announced that its employees expecting their final paychecks on Thursday will instead receive them on Friday, due to a court hearing. The company, ceasing operations on July 28, laid off the majority of its 30,000 workforce. Amidst this, $92.9 million in vacation pay for employees remains uncertain. Two non-Teamster-represented employees stated they got their final payments but no compensation for unused vacation time. The Teamsters organization has publicly critiqued Yellow's decisions and expressed support for the affected members. The company has sought bankruptcy protection multiple times in the last 15 years and previously received a $700 million U.S. Treasury loan in 2020.
NEW: Yellow truck drivers and dockworkers told me they didn't receive their paycheck today — which was supposed to be the last one before the trucking giant shuttered operations$YELL said they will pay tomorrow
— Rachel Premack (@rrpre) August 10, 2023
$92.9M in PTO pay remains in limbo https://t.co/NTqMbXlGnM
Key trends in freight and shipping market of June 2023, with insights into spot market, carrier capacity, LTL sector and cross-border shipping.
Molson Coors, recognized as 2023's Shipper of Choice, excels in supply chain management, shipping 13M barrels of beverages annually.
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