Costco, the teams reach a provisional contract agreement, avoiding a strike

(AP) – Costco and Teamsters Union concluded a provisional agreement on a new contract, avoiding a strike, the union announced on Saturday.

Teamsters spokesperson Matthew Mcquaid confirmed the agreement, which will have to be approved by members. The details of the agreement were not immediately available. The Associated Press left a message looking for comments with Costco.

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 employees and 617 American stores. The company said its work agreement with teamsters applies to less than 10% of these stores.

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

The members of the union wanted the company Issaquah, Washington, making a contractual offer which reflects its growth in sales and profits. Costco’s turnover increased by 5% to $ 254 billion in its most recent financial year, which ended on September 1. The company declared a net profit of $ 7.36 billion, double its profit in 2019.

“Costco Teamsters deserves a advanced contract which reflects the massive profits of the company. If Costco thinks they can exploit our members while going to billions, we will close them, “said team president Sean O’Brien, in a press release.