ANAHEIM, California, July 24 (Reuters) - Unions
representing 14,000 Disneyland employees said on Wednesday they
had reached a tentative labor agreement with Walt Disney Co ( DIS )
, averting a work stoppage at the California theme park.
The new, three-year agreement, which includes wage
increases and other benefits for park employees, whom Disney ( DIS )
calls "cast members," was signed by an alliance of unions
representing custodians, ride operators, merchandise clerks and
other workers at the Disneyland Resort in Anaheim, in Southern
California.
A ratification vote on the proposed contract is scheduled
for Monday.
"Cast members have fought hard for the past four months and
this tentative agreement would not have been possible without
the strength we all showed throughout this process and the
unwavering support from guests and community members," the
unions said in a statement.
Disney ( DIS ) confirmed the tentative deal in a statement to
Reuters: "We care deeply about the wellbeing of our cast members
... and are pleased to have reached a tentative agreement with
the Master Services council that addresses what matters most to
our cast."
Last week, workers protested outside Disneyland with signs
saying, "Mickey Would Want Fair Pay!"
Union members had voted overwhelmingly on Friday to
authorize a strike if an agreement could not be reached.
"We have shown Disney ( DIS ) that we are the true magic makers of
the park and today proves that when workers stand together for
what they deserve, we win," the unions said in a joint
statement.
Disney ( DIS ) shares fell 1.4% in afternoon trading on the New York
Stock Exchange at $89.65 amid a broad downturn in stocks. The
Dow Jones Industrial Average was trading down about 1% and the
Nasdaq dropped 3%.