Costco, Teamsters Avoid Strike with Terminal Contract Agreement – San Bernardino County Sun

Costco and Teamsters Union have reached a preliminary agreement on a new contract, avoiding a strike, the Union reported on Saturday.

Teamsters spokesman Matthew McQueid has confirmed the agreement that will have to be approved by members. Details of the agreement were not immediately available. The Associated Press left a message looking for a comment with Costco.

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The Teamsters Union represents 18,000 Costco workers in six states: California, Washington, Maryland, Virginia, New Jersey and New York. Overall, Costco has 219,000 US officials and 617 US stores. The company said her Labor Agreement with Teamsters applied for less than 10% of these stores.

On January 20, the members of the teams in Costco voted very much in favor of a strike if a new three -year contract agreement was not reached by midnight on Friday when the current contract expired.

Union members wanted the company Isaaka, Washington, to make an offer for a contract that reflects its sales and growth of profit. Costco’s revenue increased by 5% to $ 254 billion in its last fiscal year, which ended on September 1st. The company reported a net income of $ 7.36 billion, doubled its profit in 2019.

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“Teamsters Costco deserves a leading contract that reflects the company’s huge profits. If Costco thinks it can exploit our members while Rake on billions, we will close them, “said Teamsters General Sean O’Brien in a statement.

Separately, Costco announced on Friday that it would raise hours salaries in March for notionized workers up to over $ 30 for employees at the top of the pay scale, with an additional increase planned over the next two years. Workers at the bottom of the rock will receive an increase of 50 cents per hour to $ 20, according to a note from CEO Ron Vahrris.

Bloomberg has contributed to this report.