Starbucks baristas to strike on Friday, union says
Published On Dec 19, 2024, 10:10 PM
Starbucks baristas in the U.S. are set to strike for five days starting on Friday due to disputes over pay and working conditions. The union, representing over 11,000 members, plans demonstrations in major cities like Los Angeles, Chicago, and Seattle, with the potential for the strikes to escalate across hundreds of stores by Christmas Eve if negotiations fail. The union is urging Starbucks to address what it sees as unfair pay disparities with senior executives. Starbucks has expressed willingness to negotiate but claims the union needs to return to the discussion table. The company has been facing recent challenges, including declining sales partly due to rising prices and a backlash related to the Israel-Gaza conflict.
Stock Forecasts
SBUX
Negative
The impending strike by Starbucks workers could disrupt operations, particularly in key markets. If negotiations do not lead to a resolution, continued strikes may negatively impact Starbucks' sales and brand reputation in the short term. Therefore, there is a likelihood of decreased stock performance in the near future as investors react to these developments.
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