The freight company was nearly 100 years old and employed about 30,000 workers, 22,000 of them are union jobs.
"It's a shame that it shut down. It's the third largest LTL provider in the US, so we're going to feel the impacts," said Kathleen Iacocca, an associate professor at Villanova University.
Supply chain experts like Iacocca say it's unclear whether this will impact shipping costs at the consumer level. Yellow was known for providing mixed-load shipments from multiple manufacturers, including Walmart and Home Depot. "Yellow was very attractive because it was one of the cheapest in the industry. So there's going to be higher cost now simply because the lowest bidder is no longer available," said Iacocca.
The Pennsylvania Department of Labor says as of Monday they haven't received layoff notices so it's unclear how many jobs locally are being affected.Copyright © 2023 WPVI-TV. All Rights Reserved.
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