Costco Wholesale Corporation and the Teamsters labor union announced that their negotiating committee reached a tentative agreement for a new contract. This development follows a period of intense negotiations and a recent vote by union members to authorize a nationwide strike.
The agreement, reached on Saturday, February 1, successfully averts potential labor disruptions across Costco's U.S. operations. The previous collective bargaining agreement, covering over 18,000 Costco workers, was set to expire on January 31.
This resolution ensures labor stability and uninterrupted operations for Costco, eliminating the significant risks associated with a strike, such as supply chain disruptions and impacts on customer service. The agreement is expected to be ratified by union members, solidifying a new period of labor peace for the retailer.
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