Costco Teamsters Authorize Strike If Demands Aren’t Met
Costco Teamsters nationwide have voted by an 85% margin to authorize a strike on Feb. 1 if its labor dispute over fair wages and benefits is not resolved. The Costco Teamsters National Master Agreement, covering more than 18,000 Costco workers, expires on Jan. 31.
The Teamsters are asking the company to improve wages and benefits, such as pensions and job security, to reflect the company’s success. Costco posted a 7.5% increase in net sales, hitting $60.99 billion, in its first quarter ended Nov. 24. During this time, the retailer boosted same-store sales by 7.1%. Traffic was up 4.9% in the United States, while earnings per share (EPS) came in at $4.04 versus the expected $3.79. Meanwhile, for the fiscal year 2024, the company reported net sales of $249.6 billion, an increase of 5.0% from fiscal year 2023.
“Our members have spoken loud and clear — Costco must deliver a fair contract, or they’ll be held accountable,” said Teamsters General President Sean M. O’Brien. “From day one, we’ve told Costco that our members won’t work a day past January 31 without a historic, industry-leading agreement.”
Last week, hundreds of Costco Teamsters nationwide organized practice pickets in preparation for a potential strike. Locations included Hayward, Calif., Sumner, Wash., Long Island, N.Y., and San Diego.
Founded in 1903, the Washington, D.C.-based International Brotherhood of Teamsters represents 1.3 million workers in the United States, Canada, and Puerto Rico.
With more than 300,000 employees around the globe, Costco operates approximately 900 warehouses, including 600-plus in the United States and Puerto Rico, 100-plus in Canada and 41 in Mexico. It also operates e-commerce sites in eight countries. The company is No. 3 on The PG 100, Progressive Grocer’s 2024 list of the top food and consumables retailers in North America. PG also named Costco among its Retailers of the Century.
