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    Teamsters Reach Labor Pact with Costco

    CHICAGO - The International Brotherhood of Teamsters union said on Thursday it reached a tentative agreement with warehouse club operator Costco Wholesale Corp. covering about 3,500 employees on the East Coast, Reuters reports.

    CHICAGO - The International Brotherhood of Teamsters union said on Thursday it reached a tentative agreement with warehouse club operator Costco Wholesale Corp. covering about 3,500 employees on the East Coast, Reuters reports.

    The union said Costco workers on the East Coast will receive bonuses and wage increases that together will boost their income by $2 to $4 per hour.

    "This is a very strong contract that keeps Costco workers the highest paid workers in the retail industry," said Rome Aloise, an International Union representative. "The contract also provides for a streamlined and improved grievance procedure to resolve worker disputes with the company."

    The 3,500 workers at 16 warehouses in New York, New Jersey, Maryland and Virginia are scheduled to vote on the tentative three-year agreement in mid- to late-September.

    Costco employs about 76,000 people in the United States, and 102,000 worldwide.

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