Yellow Freight closure thread

Ran from north Carolina to Indiana today and only saw 2 yellow trucks over 528 miles .

 

Was in Twin Falls, ID the past few days and saw a bunch of linehaul guys with Yellow/Reddaway running. Making the most out of their last runs I guess.

It truly is a shame.

I got my CDL through Yellow in 2021 and did a year with Reddaway till I bailed. Knew what was to come with their half ### merger. Learned a lot from the senior drivers at Yellow here on the forum. Took their advice. Tried telling the other newer guys to move on before they got in too deep. Don’t think any of them took it serious. Most of the senior guys will retire I assume

 

On Thursday I'm in baxter spring ks delivering. They have a decent sized yellow terminal and majority of the time I see quite a few road drivers ending there shift. Yesterday I just seen two yellow trucks and instead of pups they both where pulling old reddaway long box's.

 

I saw a lot of Yellow today between Mauston, WI and Chicago. 3 headed back to Sauk Village which is a huge hub. I felt for them. I’m sitting here complaining to myself I might have to work tomorrow. Guess I should count my blessings. I hope all the Yellow guys land on their feet and end up in a better position.

 

Question: Driver gives over 20 year+ sacrifice depending on a pension to retire off... company files for bankruptcy... what happens to that pension or contract? Class action lawsuit is the only solution (non criminal)?

 

The answer is complicated and convoluted.

The TLDR explanation is the workers take a HUGE hit (if memory serves its a 40% cut) and the government covers the rest of the shortfall.

It's why I don't like pensions- they're based off the assumption that the company will still be around with AT LEAST the same number of employees.

 

https://www.dol.gov/sites/dolgov/fi...ter/fact-sheets/your-employers-bankruptcy.pdf

 

I remember a time when mob got into the teamsters ...circa Jimmy Hoffa and Jackie presser ....and dam near sucked the central states pension fund dry .

 

Your pension is frozen and one can draw it when they qualify with age and years of service according to the funds rules.