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submitted 1 year ago by JCPhoenix@beehaw.org to c/usnews@beehaw.org

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.

Original NYT link.

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[-] Fizz@lemmy.nz 21 points 1 year ago

What's the bet they pocketed most of that money and then closed.

[-] I_Miss_Daniel@kbin.social 6 points 1 year ago

🎵Look at the stars, look how they shine for you. 🎵

[-] scmstr@lemmynsfw.com 5 points 1 year ago

When you are a leech of the people, you can't be punished, right?

[-] instamat@beehaw.org 2 points 1 year ago

Leeches of the people get a pass, because they’re a sad ☹️

[-] green_witch@beehaw.org 1 points 1 year ago

I know of at least one orange dude that just about nothing has happened to for what... seven years now? So yeah, guess it tracks.

[-] falsem@kbin.social 4 points 1 year ago

What's their burn rate that they're going bankrupt after 700M in cash?

[-] zalack@kbin.social 4 points 1 year ago* (last edited 1 year ago)

At 30,000 employees that's only $23,000/person. I'm sure payroll alone is well North of $700M per year.

[-] falsem@kbin.social 2 points 1 year ago

Thanks for doing the math

[-] Synnr@sopuli.xyz 4 points 1 year ago

I'm sure I can find it in the article but what kind of bankruptcy? Are investors walking away with bruises?

[-] wick@lemm.ee 4 points 1 year ago

Stock fell on Thursday, declared bankruptcy Friday.

this post was submitted on 31 Jul 2023
68 points (100.0% liked)

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