Yellow, which received a pandemic loan, is winding down operations ahead of an expected bankruptcy filing. The closure of the company would mean the loss of about 30,000 jobs.
Yellow, which received a pandemic loan, is winding down operations ahead of an expected bankruptcy filing. The closure of the company would mean the loss of about 30,000 jobs.
What’s their burn rate that they’re going bankrupt after 700M in cash?
At 30,000 employees that’s only $23,000/person. I’m sure payroll alone is well North of $700M per year.
Thanks for doing the math