23:10:17 EDT Sat 11 May 2024
Enter Symbol
or Name
USA
CA



Metro Inc
Symbol MRU
Shares Issued 230,021,730
Close 2023-08-17 C$ 70.67
Market Cap C$ 16,255,635,659
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Globe says Metro asks for mediator to help end strike

2023-08-18 06:49 ET - In the News

The Globe and Mail reports in its Friday, Aug. 18, edition that Metro has asked for a mediator from Ontario's Ministry of Labour to step in to resolve a strike that has shuttered 27 stores in and around Toronto for more than two weeks. The Globe's Susan Krashinsky Robertson writes that about 3,700 employees are affected by the labour dispute. On Thursday, Metro announced that it has asked for an independent third party appointed by the ministry, known as a conciliation officer, to help the parties resolve their differences. Over the weekend, Metro asked Unifor to return to the bargaining table, but the union refused, saying its workers are hoping for a better wage offer from the company. The strike began on July 29, after members of Unifor Local 414 rejected a tentative four-year agreement their bargaining committee reached with the company. The tentative agreement included wage increases, but was not good enough for the workers. Last week Metro reported a jump in profits to $346.7-million in the third quarter. Profits were boosted by a favourable adjustment on a tax benefit totalling $40.7-million. Not including that one-time benefit, adjusted net earnings grew by 10.9 per cent.

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