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  • 3/5/2024
A group of labor unions has ended its proxy fight at Starbucks and withdrawn board nominees. This comes after the unions and Starbucks agreed last week to work toward a "foundational framework" for collective bargaining. The Strategic Organizing Center argued Starbucks' response to unionization efforts had hurt shareholders. But last week's agreement was seen as a turning point and sign of Starbucks making a "good faith" effort to repair worker relations. The labor group emphasized the importance of shareholders keeping a close eye on the Board's performance and Starbucks' labor relations, with a commitment to hold the company accountable in the future.
Transcript
00:00 It's Benzinga and here's what's on the block.
00:02 A group of labor unions has ended its proxy fight at Starbucks and withdrawn board nominees.
00:07 This comes after the unions in Starbucks agreed last week to work towards a foundational
00:10 framework for collective bargaining. The Strategic Organizing Center argued
00:14 Starbucks' response to unionization efforts had hurt shareholders. But last week's agreement
00:18 was seen as a turning point and sign of Starbucks making a good-faith effort to repair worker
00:22 relations. The labor group emphasized the importance of shareholders keeping a close
00:25 eye on the board's performance and Starbucks' labor relations, with a commitment to hold the
00:29 the company accountable in the future.
00:31 For all things money, visit Benzinga.com.
00:33 [BLANK_AUDIO]

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