What to know

In a recent update on X, previously known as Twitter, the Teamsters stated, "The vote stems directly from the company's ongoing inability to negotiate in good faith and its refusal to offer a fair contract that aligns with its record-breaking profits." The post also included a quote from Sean M. O'Brien, the General President of the Teamsters, who remarked, "Costco's greedy executives have less than two weeks to make the right decision. If they choose not to, they will have no one to blame but themselves when our members go on strike."
Costco had a highly successful 2024, experiencing a rise in sales. Furthermore, the company raised its annual membership fee on September 1 for the first time in nearly ten years. The wholesale retailer also saw an increase in sales of meat and produce as more customers opted to dine at home rather than eat out due to inflation. The possibility of a strike, although not affecting the entire company, may come as a surprise given Costco's reputation for treating its employees fairly, along with providing good benefits and pay. If an agreement is not reached between the Teamsters union members and Costco before the current contract expires on January 31, a strike involving unionized employees is set to commence on February 1, 2025.
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