Over 400 Teamsters are on strike at the Molson Coors brewery in Fort Worth, Texas, disrupting output at North America’s second-largest brewer.
The work stoppage, which began Saturday, comes ahead of the Teamsters’ March 1 strike deadline for 5,000 employees at Anheuser-Busch, the nation’s largest brewer. In its most recent update on the status of those talks, the union stated that a strike at Anheuser-Busch “appears unavoidable.”
Teamsters Strike Molson Coors As It Prepares To Walk Out At Anheuser-Busch Next Week
The Molson Coors strike comes as the business reports high sales and profitability. Last Monday, it posted underlying earnings of $1.5 billion before taxes in 2023, up 39% from the previous year. Full-year revenue increased by 9% to $11.7 billion.
“Last year we achieved the highest reported top and bottom-line figures in the history of our company,” said CEO Gavin Hattersley when announcing results. “We plan to build on this momentum in 2024.”
The union believes the company’s offer was “insulting” given how well it is doing financially, with the bulk of Teamsters members receiving less than a $1 per hour wage raise.
Teamsters Strike Molson Coors As It Prepares To Walk Out At Anheuser-Busch Next Week
“As long as the profits keep flowing to the top, Molson Coors doesn’t care if the workers inside its breweries can afford to take care of their families,” said Sean O’Brien, president of the Teamsters union. “Millions go to the CEO, billions to Wall Street, and a middle finger goes to the employees. We are not taking the disrespect, accepting the crumbs, or making sacrifices.
Molson Coors stated that approximately 30% of its North American workforce is unionised, with three Canadian breweries accounting for most of this figure. In addition to those three plants, it owns six US breweries, including Fort Worth.
The company stated that it has surplus capacity at its other five US breweries and has stored up product inventory in anticipation of a possible strike.
Teamsters Strike Molson Coors As It Prepares To Walk Out At Anheuser-Busch Next Week
“While we respect the union’s right to strike, we have strong contingency plans and are well equipped to ensure consumers will be able to buy their favourite Molson Coors products,” according to a statement from the firm. It justified their offer to the union, claiming it “exceeds local market rates.”
“We remain committed to reaching an agreement that is fair to everyone,” the statement stated.
SOURCE – CNN
