Costco workers, representing over 18,000 members of the International Brotherhood of Teamsters, have voted to authorize a strike as their collective bargaining agreement is set to expire on January 31. The teamsters claim that 85% of its members backed the action due to the company’s inability to meet their demands for salaries and benefits.
According to General Union President Sean M. O’Brien, the vote reflects workers’ frustration with the lack of progress in negotiations. The union asserts that Costco’s financial success should enable better compensation and benefits, but management has not fulfilled its expectations.
Costco’s latest fiscal year showed a 135% rise in net income to $7.4 billion and sales increased by $254 billion compared to 2018. However, the union claims that the company has not agreed to conditions reflecting its expansion and success.
Practice picket events were held across the country last week as workers coordinated their activities in California, Washington, New York, and other places. The Teamsters stated that these events aimed to prepare members for any strike action.
A Costco employee and Teamsters Local 570 member from Baltimore said, “Workers have been absolutely crucial for Costco’s success.” The teamsters’ statement echoed this sentiment, highlighting the shared preparedness of its members to take action if their demands are not met.
Source: https://finance.yahoo.com/news/costco-workers-vote-overwhelmingly-authorize-084839205.html