Adjust Yellow Corps Cares Act Loan Terms to Save 30,000 American Jobs

Adjust Yellow Corps Cares Act Loan Terms to Save 30,000 American Jobs

Started
October 28, 2023
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This petition had 1,279 supporters

Why this petition matters

Started by Mike Lee

My name is Christopher Lee and I was an employee at Yellow Corp. Like many of my colleagues, I am deeply concerned about the loss of our jobs. We were part of a workforce that comprised 30,000 hardworking Americans whose livelihoods are now lost due to the gross corporate mismanagement and the current terms of our company's Cares Act loan.

The Secretary of the Treasury Janet Yellen has the power to adjust these terms so that there can be going concern bids and potentially create an opportunity for new owners. This adjustment could potentially pay back taxpayers faster, while also saving some if not all of the 30,000 jobs lost and ensure the survival of our company in these challenging times.

According to data from The Bureau of Labor Statistics (BLS), job losses on this scale would significantly impact not only us as individuals but also our local economies and communities. We believe it is crucial for authorities to consider this when making decisions about loan adjustments.

10 United States Senators have now joined the fight, and we urge you to stand with us in asking the Secretary of Treasury Janet Yellen to reconsider and adjust the terms for Yellow Corp's Cares Act loan - not just for us employees but also for thousands more who indirectly rely on our industry's survival.

Please sign this petition today and help save 30,000 American jobs!

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