Details of the agreement between Costco and the Teamsters union weren't immediately available.
Costco and the Teamsters union have reached a tentative agreement on a new contract, avoiding a strike, the union said Saturday.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 .The Teamsters union represents 18,000 Costco workers in six states: California, Washington, Maryland, Virginia, New Jersey and New York.
20, Teamsters members at Costco voted overwhelmingly in favor of a strike if a new three-year contract agreement wasn't reached by midnight Friday when the current contract expired.Union members wanted the Issaquah, Washington, company to make a contract offer that reflected its sales and profit growth. Costco's revenue rose 5% to $254 billion in its most recent fiscal year, which ended Sept. 1. The company reported net income of $7.36 billion, double its profit in 2019.
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