01:00 PM EDT, 07/29/2024 (MT Newswires) -- (Updates with details throughout)

Costco (COST) workers represented by the Teamsters union in Norfolk, Virginia, voted to authorize a strike ahead of the start of contract negotiations, according to a statement Monday.

Both sides are due to begin national contract negotiations on Aug. 21 and the "nearly unanimous strike vote reflects growing militancy among Costco workers nationwide," Teamsters said in the statement.

According to Teamsters, its national contract with Costco, which covers 18,000 of its members, expires Jan. 31, 2025.

"Workers have had enough of the company's bad behavior and are prepared to fight for the fair treatment and compensation they deserve. Teamsters are sending a loud message to Costco: we want results, and we are prepared to take action to get them," Teamsters Warehouse Division Director Tom Erickson said in the statement.

Costco did not immediately respond to a request for comment from MT Newswires.

Price: 821.14, Change: +3.53, Percent Change: +0.43