Labor coalition accuses Starbucks of 'flawed' union strategy, risking shareholder value
Publishing timestamp: 2024-02-20 09:38:16
Summary
A coalition of unions is pushing to replace three members of Starbucks' board, claiming that the company's anti-union strategy has led to a flawed human capital management strategy, reputational risk, and diminished shareholder returns. The unions argue that Starbucks' response to the union movement has cost the company nearly a quarter of a billion dollars and damaged the value of the brand. Starbucks, on the other hand, defends its board and strategy, highlighting its market value creation and outperformance compared to its peers.
Sentiment: NEGATIVE
Tickers: MCD, QSR-CA, DPZ, WEN, DRI, QSR, SBUX, CMG, YUM,
Keywords: yum! brands inc, wendys co, labor economy, restaurant brands international inc, chipotle mexican grill inc, business, restaurants, domino's pizza inc, starbucks corp, mcdonald's corp, labor unions, darden restaurants inc, business news,
Source: https://www.cnbc.com/2024/02/20/soc-labor-coalition-accuses-starbucks-of-flawed-union-strategy.html