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Starbucks Investors Vote For Worker-Rights Assessment: Report – Starbucks (NASDAQ:SBUX) – Stocks to Watch
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Starbucks Investors Vote For Worker-Rights Assessment: Report – Starbucks (NASDAQ:SBUX)

ByShivani Kumaresan

Mar 30, 2023
Starbucks Investors Vote For Worker-Rights Assessment: Report - Starbucks (NASDAQ:SBUX)

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  • Starbucks Corp SBUX investors urge an outsider assessment of how it treats its labor force.

  • The nonbinding proposal was approved in the light of a unionization wave across its cafes in the U.S., reported Bloomberg.

  • In the vote, more than half of the investors wanted a worker rights assessment.

  • The report noted this might set an example for other corporate giants that face similar stockholder resolutions, including Walmart Inc WMT, Amazon.Com, Inc. AMZN, and CVS Health Corp CVS.

  • The company is also facing accusations from the U.S. National Labor Relations Board prosecutors that its antiunion practices have flouted the law.

  • Companies are increasingly being nudged to stay accountable for just employee treatment, especially lower-paid employees.

  • In Starbucks, about 300 of the U.S. locations have voted to unionize, asking for better working conditions. 

  • The assessment will be one of the first challenges for the new CEO, Laxman Narasimhan, who succeeded Howard Schultz recently.

  • Price Action: SBUX shares closed higher by 1.92% at $100.62 on Wednesday.

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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Image and article originally from www.benzinga.com. Read the original article here.

Shivani Kumaresan

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