Yellow | Rumors of layoffs?

Yellow Fever

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Any truth to the rumors of layoffs happening right after 3rd quarter conference call on Wednesday Nov 2? Things are moving quickly now. The following quote by our CEO from the call:

“But I do want to make a comment about the size of these changes, Phase 2 that we are doing between now and the end of the year involves 200 facilities, 15,000 employees. It requires the investments of people and processes to get these things accomplished without any disruption to the customers and that’s what we will be focused on. But it is an exciting time to wrap this up and have One Yellow operating with super regional service as we go into 2023”
 
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We haven’t had a layoff at 141. The bottom three guys haven’t worked in a long time. One went to Salisbury Maryland last week to work at a yellow barn. I don’t think we ever had a layoff they just don’t call the bottom extra guys in. It’s not a good time, TM canceled 4 bids and the COO hasn’t taken effect yet
 
Layoffs so the company does not have to pay out Holliday pay.
Happy Thanksgiving
Merry Christmas
Happy New Year
I believe their term or synergy is Right sizing the work force..
Rumor is they are going to do a 15% Synergy downsizing of the workforce to make the 4th Qrt numbers look better for the Banks & Government loans !!!
 
Rumor is they are going to do a 15% Synergy downsizing of the workforce to make the 4th Qrt numbers look better for the Banks & Government loans !!!
Patel Staffing Service is assisting YRC with right sizing terminal seniority lists so the 15 percent synergy goals are met, and will add to 4th quarter profit along with property disposals.
 
I would say current freight levels are dictating any layoffs right now. The COO has not even been instituted yet.
Freight is slow BUT the terminal posted 8 different places for travel work also posted weekend work for Maybrook. Listed us as a plus 1 on the COO and laid off 4 guys.

we share the terminal with YRC same terminal manager for both companies the YRC side is listed on the COO as a minus 7 no layoffs.

Its slow enough to lay guys off but an hour away in Maybrook their so backed up they are doing weekends and paying premium PLUS.
 
I don't know how their hiring in Buffalo right now. Hiring linehaul and p&d drivers. Are that many drivers retiring or jumping ship. Even offering a $7500 sign on bonus.

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