The shutdown of longtime LTL trucking firm Yellow Corp. has left drivers concerned about job security, although most carriers have taken steps to alleviate those concerns.
That’s according to a survey of 332 U.S. truck drivers conducted by JW Surety Bonds. It found roughly 70% of truckers are concerned about their job security in the aftermath of Yellow’s failure. Seventy per cent also reported their employer has made attempts to alleviate such concerns, while one in four say their employer hasn’t addressed the shutdown at all.
More than half of surveyed truckers (54%) said they think Yellow’s failure signals instability in the sector, and 37% said they’re actively seeking new jobs. One in six truckers said they are worried about their company’s fate in light of Yellow’s shutdown.
Eighty-three per cent of respondents were aware of Yellow’s shutdown and their most commonly cited emotion was sadness (44%).
The majority (72%) of respondents reported that Yellow’s shutdown affected their mental health.
“An astonishing 72% of truckers reported that the shutdown had impacted their mental health, indicating the need for support and resources to address their emotional wellbeing at this time,” JW Surety Bonds said in a release. “Additionally, 69% expressed concerns about their job security, with one in six truckers anxious about their company’s future. This unsettling situation has also prompted more than a third of truckers to seek new employment opportunities, and 75% would even consider shifting to a different industry.
“These findings highlight the urgency for industry leaders and policymakers to address the challenges and uncertainties faced by the trucking workforce in the aftermath of Yellow’s shutdown. Providing mental health support, fostering open communication, and exploring strategies to retain experienced drivers can contribute to a more resilient and sustainable future for the trucking community.”
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