Thousands of Costco workers are poised to strike after negotiations with the company failed to reach a new contract agreement. The Teamsters union, representing 18,000 workers in six states, gave Costco a midnight deadline to make a contract offer reflecting the company’s recent sales and profit growth. Costco claims to have had a good relationship with the union and is negotiating in good faith.
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It’s unclear if the strikes would close stores. Costco has 219,000 U.S. employees and 617 U.S. stores. The company said its labor agreement with the Teamsters applies to less than 10% of those stores. Union members say the Issaquah, Washington, company needs to make a contract offer that reflects 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.
STRIKE COSTCO TEAMSTERS LABOR CONTRACT
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