Trucker Yellow Lays Off Swath Of Workforce; Job Cuts Come As Yellow Prepares To File For Bankruptcy Soon
Portfolio Pulse from Benzinga Newsdesk
Trucking company Yellow is reportedly preparing to file for bankruptcy and has laid off a significant portion of its workforce, according to a Wall Street Journal report.
July 28, 2023 | 7:28 pm
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Yellow Corp is reportedly preparing to file for bankruptcy and has laid off a significant portion of its workforce. This could negatively impact the company's stock price in the short term.
Bankruptcy filings typically lead to a decrease in a company's stock price as it indicates financial distress. Additionally, layoffs can signal a company's struggle to maintain profitability, which can also negatively impact the stock price.
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