In a significant move, more than 18,000 workers at Costco Wholesale have voted overwhelmingly, with over 85% in favor, to authorize a nationwide strike if ongoing labor disputes regarding wages and benefits are not resolved by January 31. The Teamsters union announced that the decision reflects the urgent need for a fair contract from Costco, as emphasized by Teamsters General President Sean M. O'Brien, who stated, "Our members have spoken loud and clear -- Costco must deliver a fair contract, or they'll be held accountable."

As financial reports indicate, Costco recorded an impressive $254 billion in annual revenue and $7.4 billion in net profits, marking a substantial 135% increase since 2018. However, the Teamsters argue that these profits have not translated into improved wages and benefits for workers. "Costco's greedy executives have less than two weeks to do the right thing," O'Brien noted, highlighting the expectation for the company to meet their demands.

In preparation for a potential strike, Teamsters members have been organizing practice pickets from California to New York, reinforcing their stance and readiness for action. Such a strike would impact numerous locations across the country, as Costco operates 897 warehouses, including 617 in the United States and Puerto Rico.

The union's spokesperson revealed, "We're demanding the best wages and benefits in the industry," underscoring their commitment to achieving better compensation for members. With the clock ticking down to the expiration of the current contract, Costco now faces mounting pressure to address the needs of its workforce.

For more information, read the full article on CBS News.