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 layoffs include members of the company’s sales force, business operations and technology departments, the report said, adding that Yellow’s unionized drivers and freight handlers weren't part of the downsizing.
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.
