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The post Looking back at some of the top Yellow Corp. stories over the past year appeared first on FreightWaves.
The post Looking back at some of the top Yellow Corp. stories over the past year appeared first on FreightWaves.
FedEx Freight, the less-than-truckload unit of FedEx Corp. (NYSE: FDX), will close 29 service locations in the U.S. as part of an ongoing efficiency drive. The closures will occur by Aug. 13, the unit said Monday. The affected operations will be consolidated into other locations. The company is working with employees to find positions elsewhere…
A Wednesday note to investors from Stephens, a financial services company, estimates that Yellow may soon breach a key requirement on its cash reserves. Based on a July 10 liquidity disclosure, Stephens estimated that Yellow was burning $4 million in cash each week in the second quarter of 2023. In that same filing, Yellow disclosed…
There is no doubt that UPS Inc.’s labor costs will rise once the Teamsters union ratifies the next five-year contract, which at this writing is still being negotiated. And there is little doubt that UPS will do what it can to recoup what could be a significant increase in its expense tab. It already is…
A proceeding before the Surface Transportation Board is raising questions about how a Class I rail carrier should define adequate service under the common carrier obligation. It comes at a time when some shippers, rail unions and some members of Congress are calling for STB to provide more clarity on the federal guideline. Per federal…
Western regional parcel carrier GLS hopes that it can save its shippers significant money by being very specific about how it costs out its services. The Dutch carrier, with U.S. headquarters in Santa Fe Springs, California, recently announced the launch of its Zone 0 — defined by GLS as super short-haul, super-dense urban areas —…
UPS continues to reduce flight activity in its air network to maximize asset utilization and improve efficiency amid deteriorating shipping volumes. Executives said during Tuesday’s earnings briefing that they are optimizing the domestic air operation and further reducing scheduled flights on the international front in an effort to curb costs. The parcel delivery giant reported…