US trucking giant Yellow shutting down operations amid standoff with Teamsters union

After nearly 100 years in operation, U.S. trucking giant Yellow Corp is shutting down operations. 

The company sent notices to customers and employers, according to a report from The Wall Street Journal. 

The end of the road comes after the company earlier this month averted a strike by some 22,000 Teamsters-represented workers, saying the company will pay the more than $50 million it owed in worker benefits and pension accruals. 

Then on Thursday, the company said it was exploring opportunities to divest its third-party logistics company Yellow Logistics Inc, and was engaged with multiple interested parties. 

Formerly known as YRC Worldwide Inc., Yellow was one of the nation's largest less-than-truckload carriers with some 30,000 employees across the country.