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More than 18,000 Costco workers will be walking picket lines in less than two weeks if a labor dispute over wages and benefits is not resolved, according to the Teamsters union. Members voted by an 85% margin to authorize a strike when their current contract expires on Jan. 31, the union announced on Sunday.
With a master agreement with the Teamsters set to expire in 10 days, affecting 18,000 of the retailer's workers, hundreds last week held practice pickets.
Teamsters said its members voted in favor of a strike as they entered a final round of talks to reach a new contract ahead of a Jan. 31 deadline.
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Teamsters union members working at Costco Wholesale locations across the country voted to authorize a strike on Sunday, with more than 85% of members in favor of hitting the picket lines. The union represents more than 18,000 Costco employees nationally.
The strike authorization vote passed with an 85% margin, the union said. Investors didn’t seem concerned, however. Costco stock was up 1% to $952.28 in midmorning trading Tuesda
More than 18,000 Costco workers will be walking picket lines in less than two weeks if a labor dispute over wages and benefits is not resolved, according to the Teamsters union. Members voted by an 85% margin to authorize a strike when their current contract expires on Jan. 31, the union announced on Sunday.
A strike at Costco (COST) is now a real possibility after the union representing thousands of workers voted to authorize it.