Food retailer Metro has reached a new tentative agreement with its employees’ union, potentially bringing an end to the nearly month-long strike that had workers across the Greater Toronto Area demanding fair wages.
Strike Details
In late July, approximately 3,700 union workers at 27 of Metro’s locations went on strike after rejecting a tentative collective agreement proposed by Unifor Local 414. The workers were calling for fair wages in light of the company’s substantial profits and revenue.
New Agreement
On Wednesday, Metro revealed that a new tentative agreement has been reached. While no specific details were provided, the agreement has been unanimously recommended by the union’s bargaining committee. The next step is for employees to vote on the agreement for ratification.
Company Performance
Metro’s third-quarter financial results showcased significant growth. The company reported a sharp rise in profit, reaching 346.7 million Canadian dollars ($255.8 million) compared to C$275 million the previous year. Sales also increased by 9.6% to C$6.43 billion, surpassing analyst forecasts of C$6.2 billion. The success can be attributed to higher inflation rates and customers opting for discount offerings.
Union’s Perspective
When the strike first began, the union highlighted concerns about grocery stores prioritizing profit increases and cost-cutting over the well-being of workers. It emphasized that a significant number of grocery store employees earn close to the minimum wage, which in Ontario is C$15.50 per hour. This issue is particularly alarming considering the rising cost of living across the country.
