Starbucks preps for union talks at small percentage of stores
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Starbucks Corporation (NASDAQ:SBUX) indicated to union officials that it will be ready to start negotiating the first labor contracts with employees at hundreds of unionized U.S. cafes in October.
The company stated in a letter sent to 238 stores that it looks forward to the negotiations and hopefully setting dates and securing locations for contract bargaining.
Union officials are expected push hard on economic and non-economic issues with the talks. A key demand from the union employees will be that they have some key job protections, including only being fired for just cause.
Starbucks (SBUX) has almost 9K company-operated stores in the U.S., which means the labor changes at the 238 stores will be not immediately felt on the profit and loss statement.
Shares of SBUX rose 0.70% premarket on Tuesday to $85.40.
The Seeking Alpha Quant Rating on SBUX flipped to Strong Buy earlier this week.