Employees at Yellow Logistics, a subsidiary of Yellow Corp, have been terminated amidst widespread layoffs. The company had announced it was shopping the unit for truckload shipments, contract logistics, and warehousing and distribution services, potentially to offload it prior to a bankruptcy filing. The Teamsters union had been notified of a bankruptcy filing, and Yellow closed its terminals with signs indicating all operations had ceased. Yellow has been losing customers and missing required contributions, prompting a strike notice. They are reportedly close to receiving debtor-in-possession financing from Apollo Global Management. Yellow did not comment on the situation.