- Some 3,700 Metro (TSX:MRU) employees at 27 grocery stores in the Greater Toronto Area struck a deal just past midnight, narrowly avoiding a strike
- The tentative deal, which requires a ratification vote next week, aligns with the workers’ demands for improved compensation and working conditions
- Metro is a food and pharmacy company operating more than 1,600 locations across Quebec and Ontario
- Metro stock (TSX:MRU) is down by 0.55 per cent trading at $72.71 per share
Some 3,700 Metro (TSX:MRU) employees at 27 grocery stores in the Greater Toronto Area struck a deal just past midnight, narrowly avoiding a strike.
The workers, represented by Unifor, began discussions on June 26 with a 100 per cent strike mandate focused on better pay and access to benefits, as well as more stable schedules and improved working conditions.
Details of the tentative agreement, which was unanimously recommended by the union’s bargaining committee, will be released only after being presented to members for a ratification vote from July 23 to July 28.
“This is a milestone agreement that underscores Unifor’s deep commitment to grocery workers in the retail sector and our important work to advance their workplace rights,” Lana Payne, Unifor national president, said in a statement.
“This agreement will lay the foundation for grocery workers across the country as workers, both unionized and non-unionized, make clear their urgent need for improved working conditions amidst a chronic affordability crisis,” she added.
Unifor is Canada’s largest private-sector union representing 315,000 workers across every major economic sector. The union, which advocates for the rights of all workers, will bargain over a dozen collective agreements with major grocers over the next two years centred on worker mistreatment during the pandemic and the current housing affordability crisis.
The GTA workers’ agreement coincides with increasing calls for more competitive pricing among Canada’s concentrated grocery sector.
Metro is a grocery and pharmacy company in Quebec and Ontario employing more than 95,000 people. Its network of 975 food stores includes Metro, Metro Plus, Super C and Food Basics, while its 645 drug stores fall under the Jean Coutu, Brunet, Metro Pharmacy and Food Basics Pharmacy banners.
Metro stock (TSX:MRU) reacted negatively to the news, dropping 0.55 per cent in early trading.
Join the discussion: Find out what everybody’s saying about this stock on the Metro stock forum, and check out the rest of Stockhouse’s stock forums and message boards.
The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.