Metro To Close 27 Stores While Employees Strike After Rejecting Agreement
Metro Inc (TSX: MRU) reported tonight that it will be closing 27 groceries stories within Ontario following the decision by employees to reject a tentative collective agreement.
The collective agreement was rejected by Unifor Local 414 members, with strike action set to begin July 29 at 12:01 a.m. Picket lines are set to form at locations across Toronto, Brantford, Milton, Oakville, Mississauga and eight other cities in the GTA region as of 8:00 a.m.
“This decision to go on strike comes after years of these workers being nickelled and dimed while facing increased precarity and eroded job quality. It comes after having pandemic pay stripped away. It comes at a time of record profits and soaring CEO compensation,” commented Unifor National President Lana Payne.
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The union is said to represent 3,700 Metro workers, which includes both full and part-time employees, encompassing clerks in all departments, department managers, pharmacy and Starbucks staff.
“The Company has been negotiating with the union for the past few weeks and reached a fair and equitable agreement that meets the needs of our employees and our customers while ensuring that Metro remains competitive. The settlement provided significant increases for employees in all 4 years of the agreement, as well as pension and benefits improvements for all employees, including part-time employees,” Metro said in a statement.
The 27 locations are said to be closed for the duration of the strike, however Metro will ensure that pharmacies remain operating to care for patients.
Metro collectively operates 975 food stores under four banners, as well as 645 drugstores under four separate banners.
Information for this briefing was found via Metro, Unifor, and the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.
