Yahoo Finance
•83% Informative
Yellow Corp. paid bonuses totaling about $4.6 million to eight current and two former executives in the weeks before the company went bankrupt.
The figure is higher than it would have been if Yellow managed to avoid a sudden bankruptcy filing.
So-called retention bonuses are common in major restructurings, as they incentivize employees to stick around.
Since then, Estes Express Lines and Old Dominion Freight Line Inc. have bid against each other for Yellow ’s trucking terminals, with Estes most recently offering $1.525 billion . The case is Yellow Corp. 23-11069 , US Bankruptcy Court for the District of Delaware ( Wilmington ). (Adds comment from union official in paragraph 10 .) Most Read from Bloomberg Businessweek 2023 Bloomberg L.P ..
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86
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