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COST - Costco Wholesale News Story

$459.51 -3.8  -0.8%

Last Trade - 17/09/21

Sector
Consumer Cyclicals
Size
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.  urn:newsml:reuters.com:*: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 
Chakrabarty) 
 ((ramkumar.iyer@thomsonreuters.com; within U.S. +1 646 223 
8780, outside U.S. +91 80 6749 1130; Reuters Messaging: 
ramkumar.iyer.thomsonreuters.com@reuters.net)) 
 
Keywords: COSTCO WHOLESALE TEAMSTERS/
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