Costco and the Teamsters union have averted a potential strike by reaching a tentative agreement on a new contract. Details of the agreement are yet to be released, but it will require ratification by union members.
Costco and the Teamsters union have reached a tentative agreement on a new contract, averting a potential strike, the union announced on Saturday. Teamsters spokesman Matthew McQuaid confirmed the agreement, which will require ratification by union members. However, the specifics of the agreement remain undisclosed at this time. The Associated Press has reached out to Costco for comment.
The Teamsters union represents approximately 18,000 Costco workers across six states: California, Washington, Maryland, Virginia, New Jersey, and New York. Costco, with a total of 219,000 U.S. employees and 617 U.S. stores, stated that its labor agreement with the Teamsters covers less than 10% of its locations. On January 20th, Teamsters members at Costco voted overwhelmingly in favor of a strike if a new three-year contract agreement was not reached by the midnight deadline on Friday, when the existing contract expired. Union members sought a contract offer from the Issaquah, Washington-based company that aligned with Costco's substantial sales and profit growth. Costco's revenue increased by 5% to $254 billion in its most recent fiscal year, concluded on September 1st. 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 Labor Agreement Contract Negotiations
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Costco and Teamsters Reach Tentative Agreement, Avert StrikeCostco and the Teamsters union have reached a tentative agreement on a new contract, averting a strike. The agreement, which requires approval from union members, details are yet to be released. The Teamsters union, representing 18,000 Costco workers in six states, had threatened a strike if a new three-year contract wasn't reached by Friday. Union members sought a contract reflecting Costco's significant sales and profit growth.
Read more »
Costco and Teamsters Reach Tentative Agreement, Avert Potential StrikeA potential strike at Costco has been averted after the company and the Teamsters union reached a tentative agreement on a new contract. Details of the agreement are yet to be released, but it will now be put to a vote by union members. The Teamsters represent approximately 18,000 Costco workers across six states.
Read more »
Costco and Teamsters Reach Tentative Agreement, Avert StrikeCostco and the Teamsters union have averted a potential strike after reaching a tentative agreement on a new contract. Details of the agreement are yet to be released and will be subject to ratification by union members.
Read more »
Costco and Teamsters Reach Tentative Agreement, Avert StrikeCostco 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.
Read more »
Costco and Teamsters Reach Tentative Contract Agreement, Avert StrikeCostco and the Teamsters union have reached a tentative agreement on a new contract, avoiding a potential strike. Details of the agreement are yet to be released, but union members will vote on its ratification.
Read more »
Costco and Teamsters Reach Tentative Agreement, Avert StrikeCostco and the Teamsters union have reached a tentative agreement on a new contract, avoiding a potential strike that would have impacted 50 stores across several states.
Read more »