Macy's Inc. reached a tentative agreement with union representatives on Thursday to avoid a strike by more than 4,000 New York employees.
After an all-night negotiating session, a tentative agreement on a new five-year contract was reached. Although the details of the contract was not released to the public, Macy's spokeswoman said in a statement that the new contract "addresses the economic and business realities of the retailing industry, while keeping jobs at Macy's among the best in the department store industry."
Ken Bordieri, president of Local 1-S of the Retail, Wholesale, and Department Store Union, which represents Macy's workers, called the tentative agreement a "solid contract". More than 4, 000 Macy's workers in New York City area voted unanimously on Monday to authorize a strike if a new contract is not secured by midnight on June 15The issues in dispute include pension benefits and health insurance costs.
Macy's is a U.S. chain of mid-to-high range department stores in New York. Latest data showed that its year-over-year sales have risen to nearly 6 billion U.S. dollars.
After an all-night negotiating session, a tentative agreement on a new five-year contract was reached. Although the details of the contract was not released to the public, Macy's spokeswoman said in a statement that the new contract "addresses the economic and business realities of the retailing industry, while keeping jobs at Macy's among the best in the department store industry."
Ken Bordieri, president of Local 1-S of the Retail, Wholesale, and Department Store Union, which represents Macy's workers, called the tentative agreement a "solid contract". More than 4, 000 Macy's workers in New York City area voted unanimously on Monday to authorize a strike if a new contract is not secured by midnight on June 15The issues in dispute include pension benefits and health insurance costs.
Macy's is a U.S. chain of mid-to-high range department stores in New York. Latest data showed that its year-over-year sales have risen to nearly 6 billion U.S. dollars.
