Kroger Dallas Division Associates Ratify New Contract
The Kroger Co. (NYSE: KR) announced on September 14, 2020, that associates at 98 stores in Dallas ratified a new labor agreement with UFCW Local 1000.
Sentiment and the balance of points
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Rhea-AI Summary
The Kroger Co. (NYSE: KR) announced on September 14, 2020, that associates at 98 stores in Dallas ratified a new labor agreement with UFCW Local 1000. The agreement will lead to wage increases for over 11,000 associates, with Kroger investing an additional $300 million in associate wages, totaling $800 million by year-end as part of its Restock Kroger initiative. The deal also includes ratification bonuses, retroactive pay, and enhanced health benefits for employees. This agreement reflects Kroger's continued commitment to its workforce and community support.
Positive
- Total wage investment to reach $800 million by end of 2020, $300 million more than initially planned.
- Wage increases for all associates at 98 affected stores.
- Ratification bonuses and retroactive pay for high-performing associates.
- Improved health benefits with lower contributions and deductibles.
Negative
- None.
Details
News Market Reaction – KR
The recorded move for KR in the trading session of this news was -0.37%.
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AI-generated analysis. How Rhea-AI works. Not financial advice.
DALLAS, Sept. 14, 2020 /PRNewswire/ -- The Kroger Co. (NYSE: KR) today announced that associates working at 98 stores across Kroger's Dallas division ratified a new labor agreement with the United Food and Commercial Workers Union (UFCW) Local 1000.
"Across the Kroger family of companies, we are proud that by the end of 2020 we will have increased our associate wage investments by approximately
The improvements accompany Kroger's continued efforts to rebalance pay and benefits.
The Kroger agreement includes:
- Increased wages for all associates
- Ratification bonuses and retroactive pay for department heads, store leads, high-performing associates and other store positions
- Improved Kroger health benefits including lower associate contributions and lower deductibles
"We are pleased to reach an agreement that benefits our associates, including significant wage increases and enhanced Kroger-sponsored health care," said Adam Wampler, Kroger's Dallas division president. "I appreciate our associates for supporting this agreement and continuing to provide uplifting service to our customers each and every day."
Leaders of the United Food and Commercial Workers also praised the deal.
"We stuck together and reached an agreement that increases pay; protects affordable, quality health care; and secures benefits for the future," said UFCW Local 1000 President Ricky Burris. "This contract creates more opportunity for our members to have a better life."
The new agreement impacts more than 11,000 associates covered under the Kroger Dallas division collective bargaining agreement with UFCW Local 1000.
About Kroger's Dallas Division:
Kroger operates 109 retail food stores in the Dallas Division. More than 15,000 division associates are dedicated to our Purpose: to Feed the Human Spirit™, serving the region through food inspiration and uplift, and creating #ZeroHungerZeroWaste communities by 2025. To learn more about The Kroger Co. (NYSE: KR), visit our newsroom and investor relations site.
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SOURCE The Kroger Co.
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