Trucker Yellow Shuts Down Amid Financial Woes, Union Says (2)

Trucking firm Yellow Corp. told workers it was shutting down, according to its union, jeopardizing 30,000 jobs as the historic freight brand faces heavy debt loads and operational woes.

The Nashville-based company notified union officials that it planned to file for bankruptcy after ceasing operations, according to a statement Monday from the International Brotherhood of Teamsters.

“This is a sad day for workers and the American freight industry,” Sean O’Brien, the Teamsters’ president, said in the statement.

Yellow, the third-largest less-than-truckload carrier in the US, didn’t immediately respond to repeated requests for comment. It has been struggling financially ...