Costco and the Teamsters union have reached a tentative agreement on a new contract, avoiding a potential strike. The agreement needs to be approved by union members. Details of the agreement are not yet available.
The Teamsters union represents 18,000 Costco workers in six states. The company has 219,000 US employees and 617 stores nationwide. However, its labor agreement with the union only applies to about 10% of those stores.
In January, Teamsters members voted to strike if a new three-year contract wasn’t reached by Friday’s expiration deadline. The union sought a deal that would reflect Costco’s significant revenue growth. In its last fiscal year, Costco’s revenue rose 5% to $254 billion and net income doubled to $7.36 billion.
Teamsters General President Sean O’Brien warned that members won’t hesitate to shut down the company if they feel exploited while generating massive profits.
Source: https://13wham.com/news/nation-world/costco-teamsters-reach-tentative-contract-agreement-avoiding-a-strike-02-01-2025