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Given its proximity to many consumers, you've most likely shopped at a Costco (COST 2.65%) or Home Depot (HD -0.78%) warehouse. With combined annual revenue in the hundreds of billions of dollars, these businesses are two gigantic retailers.
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Costco and the International Brother of Teamsters union came to a tentative three-year contract agreement at the 11th hour, averting a strike that would have affected operations at more than 50 Costco stores starting today, according to the Associated Press.
Some 18,000 employees across the country were poised to walk out after union negotiations stalled
Costco and the Teamsters union have reached a tentative deal to avoid a strike. Costco Teamsters represents 18,000 workers nationwide who were ready to walk off the job.
The Teamsters labor union said on Saturday that its negotiating committee has reached a tentative agreement for a new contract with U.S. retailer Costco Wholesale.
Some 18,000 Costco workers might walk off the job on Saturday when their contract expires. Ahead of the deadline, Costco announced pay raises for non-union employees.
The wholesale retailer is reportedly planning to hike wages after Teamsters union members earlier this month voted to authorize a strike.
Costco announced that all employees at its non-union stores will get a pay raise, just a day before employees at its 50 unionized locations are set to go on strike, according to Bloomberg.
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