Costco to raise pay to $30 an hour after union workers threaten strike

Core Points - Costco Wholesale plans to increase pay for most US workers to over $30 an hour following union threats of a strike [1][3] - The pay increase will be implemented over three years, starting with a $1 raise to $30.20 in the first year, followed by an additional $1 in each of the next two years [1] - Low-scale employees will also see a pay increase of 50 cents to $20 an hour [2] Union Actions - The Teamsters union, representing over 18,000 Costco workers, voted 85% in favor of a nationwide strike due to stalled contract negotiations [4][7] - Union leaders accused Costco of not sharing its record $7.4 billion annual profits for 2024 with workers, citing complaints about pay and benefits [5] Company Position - Costco stated that the planned wage increases will ensure that its hourly wages and benefits remain competitive within the retail industry [3]