Representing 18,000 Costco employees, the union has voted to approve a strike. If the labor organization and the retailer fail to reach an agreement, the strike may begin.
The Costco Teamsters, the union representing 18,000 employees nationwide for the retailer, announced that 85% of its members have voted to approve this action. The current contract between the Teamsters and Costco is set to expire on January 31.
The President of the Teamsters, Sean O’Brien, stated in a release that if Costco executives refuse the union’s demands, union members will strike. He emphasized that union members have clearly expressed their position – Costco must provide a fair contract.
A strike could disrupt Costco’s daily operations and potentially impact public perception of the company, known for its positive treatment of employees.
The Teamsters announced on Sunday (January 19) in a post that they will engage in final week negotiations with Costco. Last week, the union held briefings in locations like San Diego and Long Island in preparation for the potential strike.
In a statement earlier this year, the union noted that Costco had rejected a proposal, describing the company’s feedback as insulting and emphasizing that the proposal did not reflect the company’s “historic financial success” nor did it offer any enhancements in retirement benefits.
According to the union, Costco recently reported an annual income of $254 billion with a net profit of $7.4 billion.
Costco has not immediately responded to media requests for comments.