Economic Rules Hub
  • World
  • Politics
  • Business
  • Investing
Home Business Costco and Teamsters reach tentative contract agreement, avoid strike
Business

Costco and Teamsters reach tentative contract agreement, avoid strike

by admin February 3, 2025
February 3, 2025

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. Overall, 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.

On Jan. 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 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.

“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 said in a statement.

This post appeared first on NBC NEWS

0
FacebookTwitterPinterestEmail
previous post
Arab nations reject Trump’s call to relocate Gazans to neighboring countries
next post
Bitcoin Well Announces Record Active Users and New Customer Registrations in January and Debt Settlement

Related Posts

Tesla stock sinks as Musk and Trump ridicule each other

June 9, 2025

Trump implies government could cut contracts and subsidies to Musk’s...

June 8, 2025

Procter & Gamble to cut 7,000 jobs as part of...

June 7, 2025

Shein and Temu see U.S. demand plunge as loophole for...

June 6, 2025

This California startup is cleaning water and removing CO₂ from...

June 6, 2025

Nationwide coordinated retail crime crackdown results in hundreds of arrests,...

June 5, 2025

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent

    • Germany plans rapid expansion of outdated bunkers amid fears of Russian aggression

      June 9, 2025
    • Champion of the people or a traitor? A new force emerges in southern Gaza

      June 9, 2025
    • Israel vows to stop aid boat with Greta Thunberg and other activists on board from reaching Gaza

      June 9, 2025
    • Israeli military recovers body of elusive Hamas leader Mohammed Sinwar

      June 9, 2025
    • Israel has boarded Gaza-bound aid ship carrying Greta Thunberg, the Freedom Flotilla Coalition says

      June 9, 2025

    Categories

    • Business (1,396)
    • Investing (3,407)
    • Politics (4,566)
    • World (4,479)
    • Email Whitelisting
    • Terms and Conditions
    • Privacy Policy
    • Contacts
    • About us

    Disclaimer: EconomicRulesHub.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 EconomicRulesHub.com | All Rights Reserved

    Economic Rules Hub
    • World
    • Politics
    • Business
    • Investing