Costco: Teamsters union halts negotiations

(CercleFinance.com) - The powerful US T,eamsters union announced on Wednesday evening that it had frozen its current negotiations with US retail giant Costco aimed at renewing their collective bargaining agreement.


In a press release, the union justifies its decision by citing the warehouse store specialist's refusal to accept a "card check" unionization scheme designed to make it easier for employees to join the Teamsters.

Despite its public reputation as 'worker-friendly', the retailer is going through a disconcerting change in its corporate culture and governance, judges the union, which has 18000 members within the group.

Increasingly, Costco is bowing to the imperatives of its shareholders and Wall Street at the expense of its employees, the organization adds.

According to the 'Fortune 500' ranking, Costco occupies 11th place amongst the largest US companies, with annual sales of $242bn and profits of $29.7bn.

The current collective bargaining agreement, signed in 2022, is due to expire at the beginning of 2025, hence the current discussions between management and unions.


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