By Gursimran Mehar, Bipasha Dey and Savyata Mishra

(Reuters) -A strike at Starbucks (NASDAQ:) will expand to over 300 U.S. stores on Tuesday, with more than 5,000 workers expected to walk off the job before the five-day work stoppage ends later on Christmas Eve, the workers’ union said.

Starbucks, which operates more than 10,000 company-operated stores across the United States, said 98% of its stores remained open, with around 170 stores closed on Tuesday.

The workers union claimed more than 290 stores were “fully shut down”, and more than 300 stores were on strike as planned across 45 U.S. states.

The Christmas Eve strike on Tuesday is projected to be the largest ever at the coffee chain, Starbucks Workers United said. “These strikes are an initial show of strength, and we’re just getting started,” an Oregon barista said in a union statement.

The union, representing employees at 525 stores nationwide, has called strikes across 12 major cities, including New York, Los Angeles, Boston and Seattle, over issues of wages, staffing and schedules.

The strike began on Friday after talks between Starbucks and the union hit an impasse.

Starbucks declined to comment on the estimated impact to overall operations from the strike after having earlier said the expected impact was “very limited”.

“They’re (Starbucks) probably right with respect to no explicit topline impact,” said Sean Dunlop, a Morninstar analyst.

Earlier this month, the workers’ group rejected an offer of no immediate wage raises and a guarantee of a 1.5% pay increase in future years.

The union has also said that Starbucks was yet to present its workers with “a serious economic proposal.”

© Reuters. Workers picket in front of a Starbucks in the Brooklyn borough in New York, U.S. December 23, 2024. REUTERS/Eduardo Munoz

“We are ready to continue negotiations when the union comes back to the bargaining table,” the company said.

Starbucks had previously claimed that the union delegates prematurely ended the bargaining session.


Source link

Best Brokers

Unmatched trading fees, generous bonuses, top notch Regulation Frame.

T&Cs Apply

Risk disclosure: All investments involve a degree of risk of some kind. Trading financial derivative products comes with a high risk of losing money rapidly due to leverage.

Top-Tier Regulations. Unmatched Spreads and Commissions. Trading View is available.

T&Cs Apply

Financial Spread Trades and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 84.7% of retail investor accounts lose money when trading CFDs with this provider.

Modern and Intuitive Interfaces, Solid Regulatory Frame, and excellent Trading Fees.

T&Cs Apply
Risk warning: Trading derivatives is highly speculative, carries an inherent risk of loss and is not suitable for all investors. Before trading, you are strongly advised to read and ensure that you understand the relevant risk disclosures and warnings.

Highly Regulated. Low Spreads and Commissions. Vast Account Options.

T&Cs Apply

Risk Warning: Trading derivatives carries significant risks. It is not suitable for all investors and if you are a professional client, you could lose substantially more than your initial investment.