Costco and the Teamsters union have reached a tentative agreement for a new contract, avoiding a potential strike. The agreement still needs to be approved by union members, and details are not yet public. The Teamsters union represents 18,000 Costco workers in six states and had threatened to strike if a new contract wasn't reached by Friday's deadline.
Costco and the Teamsters union have reached a tentative agreement on a new contract, averting a potential strike, the union announced Saturday. Teamsters spokesman Matthew McQuaid confirmed the agreement, which is subject to approval by union members. Details of the agreement were not immediately available. The Associated Press reached out to Costco for comment.
The Teamsters union represents 18,000 Costco workers across six states: California, Washington, Maryland, Virginia, New Jersey, and New York. Costco employs a total of 219,000 individuals in the U.S. and operates 617 stores nationwide. The company stated that its labor agreement with the Teamsters encompasses less than 10% of its U.S. stores. On January 20, Teamsters members at Costco overwhelmingly voted in favor of striking if a new three-year contract agreement wasn't finalized by the midnight deadline on Friday, when the previous contract expired. Union members sought a contract offer from the Issaquah, Washington-based company that aligned with Costco's sales and profit growth. Costco's revenue increased by 5% to $254 billion in its most recent fiscal year, which concluded on September 1. The company reported a net income of $7.36 billion, representing a doubling of its profit compared to 2019. 'Costco Teamsters deserve an industry-leading contract that reflects the company's massive profits. If Costco thinks they can exploit our members while raking in billions, we'll shut them down,' Teamsters General President Sean O'Brien stated in a press release
Costco Teamsters Strike Contract Labor Agreement
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Teamsters Reach Tentative Agreement with Costco Averted StrikeThe Teamsters union announced a tentative agreement with Costco, preventing a strike by nearly 18,000 workers. The agreement follows the expiration of a previous contract and a vote by union members to authorize a strike if a new deal wasn't reached. Terms of the agreement haven't been released yet, and final approval still requires ratification by Costco's unionized workforce.
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Costco, Teamsters reach tentative contract agreement, avoiding a strikeCostco and the Teamsters union have reached a tentative agreement on a new contract, avoiding a strike. Teamsters spokesman Matthew McQuaid confirmed the agreement, which will have to be approved by members. Details of the agreement weren’t immediately available. The Associated Press left a message seeking comment with Costco.
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Costco, Teamsters reach agreement, avoiding a strikeCostco and the Teamsters union have reached a tentative agreement on a new contract, avoiding a strike, the union said Saturday.
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Costco, Teamsters reach tentative contract agreement, avoiding strikeCostco and the Teamsters union have reached a tentative agreement on a new contract, avoiding a strike, the union said Saturday.
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Costco, Teamsters reach tentative contract agreement, avoiding strikeCostco and the Teamsters union have reached a tentative agreement on a new contract, avoiding a strike, the union said Saturday.
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