Starbucks workers expand strike, closing nearly 60 stores in several US cities
Published On Dec 24, 2024, 5:55 AM
Starbucks workers have extended their strike to nearly 60 stores across various U.S. cities, starting from a few locations in Los Angeles, Chicago, and Seattle. Workers are pushing back against stalled contract negotiations, demanding significant wage increases and better working conditions, citing dissatisfaction with the ongoing bargaining process and alleged broken commitments by the company. Starbucks claims that the strike is not significantly disrupting operations, as these stores represent a small fraction of its over 11,000 locations in the U.S.
Stock Forecasts
SBUX
Negative
The ongoing strike and trouble in labor negotiations may negatively impact Starbucks' operations, consumer sentiment, and stock performance in the short term. Investors could be cautious as the brand's reputation and financial health may come under scrutiny during labor disputes. If negotiations remain unresolved and further strikes occur, earnings could be impacted.
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