Key Takeaways
- Shares of Starbucks rose Tuesday as its striking baristas were expected to return to work on Wednesday.
- Its union has demanded a higher minimum wage and other concessions from the company.
- A Starbucks executive said most of its locations remained open during the striker, also calling the union’s pay request “not sustainable.”
Shares of Starbucks (SBUX) finished Tuesday higher amid reports that its striking baristas would return to work.
The union representing some Starbucks baristas had earlier said workers in several hundred U.S. stories were striking against the coffee chain. Starbucks Workers United wrote on social media site X that the walkout, which began in Chicago, Los Angeles, and Seattle last Friday, had reached locations “from coast-to-coast.”
The union has argued that the company hasn’t bargained in good faith, and it is fighting for “a fair contract.” Company officials had said the union backed out of contract talks and made salary increase demands that were “not sustainable,” also saying that the strike would have a limited effect on overall operations.
The strike was expected to wrap up today.
Starbucks shares finished the day nearly 3% higher but are down roughly 6% this year.
This article has been updated to reflect new share price and other information.
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