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Loblaw Companies Ltd
Symbol L
Shares Issued 313,871,556
Close 2023-11-17 C$ 121.76
Market Cap C$ 38,217,000,659
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Globe/CP say strike averted at Loblaw's No Frills

2023-11-20 09:12 ET - In the News

The Globe and Mail reports in its Monday, Nov. 20, edition that Unifor has reached a tentative deal on behalf of almost 1,300 No Frills workers across Ontario, the union said Sunday, averting a looming strike that was set to launch in less than 24 hours. A Canadian Press dispatch to The Globe reports that the union had announced the strike deadline on Thursday, calling for higher wages and better working conditions for employees at 17 stores. The job action could have started as early as Monday. No Frills is the discount grocery banner owned by Loblaw. "No Frills workers knew that the public would have their back in their demand for their fair share of Loblaw's enormous profits," said Gord Currie, Unifor Local 414 president. "Workers made it very clear that they were ready to strike, if necessary, in order to achieve our necessary demands for decent work and pay." Unifor previously cited growing profits at Loblaw amid the rising cost of living as the reason for its wage demands, saying workers were fed up with the disparity between their pay and the company's earnings. The No Frills workers -- most of whom are part-time -- will now vote on the tentative deal from Monday to Saturday.

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