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COST - Costco Wholesale News Story

$459.51 -3.8  -0.8%

Last Trade - 17/09/21

Consumer Cyclicals
Large Cap
Market Cap £148.55bn
Enterprise Value £146.34bn
Revenue £135.36bn
Position in Universe 52nd / 7151

UPDATE 1-Teamster locals recommend rejection of Costco proposal

Tue 15th March, 2016 3:40pm
(Adds details, share move) 
    March 15 (Reuters) - The International Brotherhood of 
Teamsters said its local branches on the U.S. East Coast and 
California had recommended members reject a contract offer from 
warehouse club retailer Costco Wholesale Corp  COST.O . 
    The main issue of disagreement is the company's refusal to 
allow union members on the East Coast to move into the same 
pension plan as California members, the union said.*:nPnby26lV 
    The union said that Costco had characterized the proposal as 
its "last, best and final offer". 
    Costco Teamsters on the U.S. East Coast are part of a 
company 401(k) plan, while members in California have a defined 
benefit pension plan with the Western Conference of Teamsters 
Benefit Trust, the union body said. 
    Members in California are seeking a higher company 
contribution to the plan, Teamster said. 
    Costco did not immediately respond to a request for comment. 
    The company's shares were up about 1 percent at $154.05 in 
late morning trading on Tuesday. 
 (Reporting by Ramkumar Iyer in Bengaluru; Editing by Saumyadeb 
 ((; within U.S. +1 646 223 
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