Safeway says a 47-day strike last autumn cost the supermarket giant $67 million in earnings from its fourth quarter bottom line.
The strike by Teamsters Local 439 against Summit Logistics, the company that runs a Safeway distribution center in Tracy, cut earnings by about 13 cents a share, Safeway officials said.
The strike ended Dec. 1 with a six-year contract.
Safeway took the hit for several reasons, Chief Executive Officer Steve Burd told analysts during a conference call. Among these, Summit Logistics could not retain 300 replacement workers the first day of the strike, which meant Safeway stores were no fully stocked during the first three weeks of the strike.
"It was like managing a war," Burd said, noting that he spent about 80 percent of his time on the strike during those 47 days. "I felt like I was in Desert Storm."
Teamsters officials countered that while Safeway may have suffered, striking workers did, too.<
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Dirk van Ulden said:
Greg - thank you for this wake up call. It is relevant for many of us in similar situations.
Dirk van Ulden said:
Well - good for you but that unicum is still not convincing.
LittleFoot said:
LittleFoot said:
I challenge you to challenge me, Terence.
LittleFoot said:
Voting is for children. Politics is WWE - Hollywood for ugly people.
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