Yellow Corp., a 99-year-old trucking firm and the third largest less-than-truckload carrier in the U.S., has filed for bankruptcy.

This decision follows the Teamsters Union's refusal to offer financial concessions to the struggling firm. About 22,000 Teamsters will lose their jobs.

The 99-year-old company was known for its cut-rate prices and has more than 12,000 trucks moving freight across the country for Walmart, Home Depot and many other smaller businesses.

What Yellow couldn’t deliver was consistent service for customers or profits.

Overall, they were a poorly run company that ran up huge debts via mergers and they failed to the point that the Teamsters Union is turning their back on the truckers.