The clock is ticking for Costco to strike a deal with 18,000 unionized workers threatening to strike.
The contract between Costco and its union expires Friday night. If an agreement isn’t reached, it could trigger the first strike at the retailer in years.
Costco says its new wage hike offers hundreds of thousands of workers pay and benefits that "far outpace others in the retail industry."
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About 18,000 Teamsters are set to strike 56 Costco stores across six states early Saturday unless an 11th-hour agreement prevents what would be the largest retail strike in US history.
The top of scale workers will be at $30.20 an hour, while bottom of scale employees will begin at $20 an hour.
Costco Wholesale is raising pay for most of its hourly U.S. workers to more than $30 an hour amid contract talks with unionized employees.
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According to the memo, Costo will increase hourly pay for its top of the scale employees, or employees in senior positions, over the next three years. The pay will initially increase by $1 to $30.20 in the first year and an extra $1 each in the following two years.
Costco is raising pay for most workers as Friday night deadline looms on a new contract with its unionized employees.