Useful information
Prime News delivers timely, accurate news and insights on global events, politics, business, and technology
The Big Money Show explores the companies that become against Dei’s policies, while Costco reduces the trend.
The imminent threat of 18,000 Costco Store employees who go to the picket lines seems less likely, with the Teamsters work union announcing on Saturday that has reached an tentative agreement for a new contract with the shopping chain.
The negotiations occur in the midst of diversity, equality and inclusion policies (DEI), since most companies turn their backs on the controversial initiative.
“The tentative agreement will be presented to the membership for a vote,” the union, which represents 18,000 Costco workers, wrote in an X publication without providing any details about the agreement with its negotiation committee.
Buyers outside a Costco store in Bayonne, New Jersey, USA, on Saturday, December 9, 2023. Costco Wholesale Corp. is scheduled to launch profit figures on December 14. Photographer: Angus Mordant/Bloomberg through Getty Images (Angus Mordant / Bloomberg through Getty Images / Getty Images)
O’Leary Rips Costco for Bucking Dei Trend: ‘Bad for business’
Reuters, citing a memorandum sent to employees this week, informs that Costco is ready to increase payment for most workers in the US store per hour at more than $ 30.
According to the memorandum, the company will increase the payment per hour for its employees of the first scale in the next three years. Payment will increase by $ 1 to $ 30.20 in the first year and additional $ 1 each in the later two years. Fund employees will also obtain an increase of 50 cents to $ 20.
Teamsters members in Costco voted overwhelmingly in favor of a strike on January 20 if a new three -year contract agreement could not be reached before midnight last night when the current contract expired.
The strike would affect 50 Costco stores in New York, New Jersey, Virginia and Washington. Costco has 617 stores throughout the country.
Workers seek better salaries, benefits and work rules in the middle of the company with a record gain of $ 7.4 billion in their most recent fiscal year, which ended on September 1.
The edible wholesalerThat for a long time he has had an image in favor of the workers, he has been locked in a prolonged battle with the Teamsters union, which represents 18,000 of the Costco American Workers Base.
Teamsters are accusing the club of edible not Of the stores, preventing employees from using Teamster buttons and changing the locks in the Bulletin Union boards.
The conversations broke in January when Costco refused to reach a card verification agreement. Card controls would facilitate workers to join the unions eliminating the secret ballots. About 85% of Costco unionized employees voted to authorize a strike.
The CEO of Storch Advisors and former toys “R” USA and the objective executive Gerald Storch reacts to a solid retail report in November and explains how industry winners are value -based players.
State AGS warns the Retail Giant Costco to double the ‘discriminatory’
The president of the Teamsters, Sean O’Brien, recently threw the glove to the executives of Costco.
“Costco has two options: respecting the workers who made them a success or face a national strike,” O’Brien said in a statement.
“Costco Teamsters deserve a leading industry contract that reflects the company’s mass profits. If Costco believes that they can exploit our members while collecting billions, we will close them.
The conversations occur when Costco doubles in its Dei policies.
While large companies such as Target, McDonald’s and Walmart withdrew from their Dei policies, Costco’s shareholders voted last week to reject an anti-dei proposal presented by the National Center for Public Policies Research of Activist Shareholders presented by the group Shareholder. The measure would have required that the wholesale supermarket chain issue a report on the risks associated with its DEI policies.
The president of O’Leary Ventures, Kevin O’Leary, declared Costco “nuts” during the “Big Money Show” on Wednesday for not abandoning Dei arguing that it is bad for business. (Photo by Tayfun Coskun / Anadolu through Getty Images / Photograph: Ting Shen / Bloomberg through Getty Images / Getty Images)
In their annual meeting recently, more than 98% of the shares voted against the proposal.
During his first week in office, President Donald Trump issued an executive order Direct the termination of discriminatory practices in the federal government and encourage termination in the private sector. After the order, the general prosecutors of 19 states urged Costco to move away from their Dei policies.
The president of O’Leary Ventures, Kevin O’Leary, declared Costco “nuts” during the “Big Money Show” on Wednesday for not abandoning Dei arguing that it is bad for business.
“They are crazy if they think I want them to fight against the federal government in politics,” O’Leary said. “I don’t care who took that survey when there is no way you get that result today. Do not fight against the attorney general in several states, you have to be out of your mind.”
Reuters contributed to this report.
