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08
Aug
Maersk Implements Cost-Cutting Measures Amid Prolonged Container Downturn
In response to a contracting container shipping market, A.P. Moller-Maersk, a Danish shipping giant, is focusing on cost-cutting measures. Despite a lowered projection for freight demand, the company upgraded its earnings outlook due to effective cost-cutting efforts that exceeded expectations. […]
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03
Aug
Yellow’s Shutdown: PNG Worldwide Steps Up to Help Shippers Navigate Rising LTL Rates
The recent and unexpected shutdown of Yellow, a leading less-than-truckload (LTL) provider with a worth of $5.2 billion, has created significant disruptions in the shipping industry. Many small to medium-sized manufacturers and distributors are now desperately seeking alternate LTL capacity […]
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02
Aug
TForce Freight Ratify Contract with Teamsters
The International Brotherhood of Teamsters announced on Monday July 31st, that employees at TForce Freight ratified a five-year contract, with an approval rate of 81% from rank-and-file members. This development adds a bit of stability for less-than-truckload (LTL) shippers following […]
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31
Jul
Trucking Giant Yellow Shuts Down Operations
The abrupt closure of Yellow, one of the U.S.’s oldest and largest trucking businesses, marks a significant event in the American trucking industry. The collapse comes after numerous failed mergers, mounting debt, and an ongoing dispute with the Teamsters union. […]
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30
Jul
FedEx Pilots Reject 30% Pay Hike Proposal, but a Strike isn’t Imminent
Pilots for FedEx have rejected a tentative labor deal. But that doesn’t mean they’re about to walk off the job just as UPS is threatened with its own strike by 340,000 drivers and other hourly ground workers. The FedEx pilots who belong […]
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29
Jul
UPS Shippers May Facer Double-Digit Rate Increases in Wake of Contract
UPS Inc. shippers should brace themselves for double-digit general rate increases (GRI) in 2024 as the transport and logistics behemoth looks to recoup the “astronomical” cost increases from its tentative five-year contract with the Teamsters union, a transport executive said. […]
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26
Jul
Yellow Exec Tells Sales Staff Company will File Bankruptcy Monday
Yellow’s senior vice president of sales informed her staff on Wednesday that their last day would be Friday and the less-than-truckload carrier will file bankruptcy on Monday, according to three employees who attended the video call. Yellow (NASDAQ: YELL) is […]
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24
Jul
No Strike at Yellow; Central States Grants Extension
Teamsters at less-than-truckload carrier Yellow Corp. will not be on strike Monday as previously planned. Central States Funds agreed Sunday to extend health care benefits for employees at YRC Freight and Holland. Yellow (NASDAQ: YELL) now has 30 days to pay […]
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19
Jul
UPS is massive. Here’s a visual breakdown of how a strike could impact delivery globally.
UPS and Teamsters, the union representing nearly 340,000 UPS workers are trying to reach a new five-year labor contract before the current contract expires at midnight July 31. Earlier this month, the two sides departed the bargaining table without coming […]
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17
Jul
Strike risk rises as Yellow punts on more than $50M in required contributions
A delinquency notice was issued Monday showing less-than-truckload carrier Yellow Corp. failed to make required contributions to health and welfare and pension funds for the month of June and that it is planning to withhold payments for July. The two […]
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