Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Strike at Kroger's King Soopers ends after deal with union

Published 01/21/2022, 08:08 AM
Updated 01/21/2022, 08:56 AM
© Reuters. FILE PHOTO: Kroger's King Soopers workers protest as they go on strike in Denver, Colorado, U.S., January 12, 2022.  REUTERS/Kevin Mohatt

(Reuters) -More than 8,000 workers at nearly 80 Kroger (NYSE:KR) Co-owned King Soopers stores called off their strike on Friday after reaching a tentative deal with the U.S. retail giant, the United Food and Commercial Workers Local 7 union said.

The details of the contract would be made public to the union members after a voting by workers beginning Monday, the union said.

"You have seven days to return to work. Contact your store manager to be placed on the schedule," the union told https:// the workers on Twitter (NYSE:TWTR).

The workers went on a strike on Jan. 12 after rejecting at least two offers from the grocery chain. The union had rejected a $170 million offer made last week by Kroger, which termed it as the "last, best and final offer".

The offer proposed wage increases of up to $4.50 per hour depending on job classification and tenure, with the starting rate of pay increased to $16 per hour. The union, however, sought raises of at least $6 per hour for everyone.

Rising COVID-19 infections and inflation have pushed U.S. workers to demand better working conditions and higher pay, with employees at Deere (NYSE:DE) & Co and Kellogg (NYSE:K) Co's cereal plants recently securing better deals after weeks of strike.

The latest deal comes after a lot of difficult negotiation, in which Kroger accused the union of refusing to bargain in good faith, while the union alleged a few King Soopers representatives displayed "unprofessional" and "outrageous" behavior.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

A U.S. court earlier this week had granted King Soopers a temporary restraining order against its striking workers, prohibiting picketing in groups of over 10 people, interfering with anyone within 20 feet of the individual or standing in front of store entrances or vehicles.

Latest comments

❤❤
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.