Department Of Labor Announces Corporate-Wide Settlement Agreement With Dollar Tree, Family Dollar To Address Hazards At Thousands Of U.S. Stores; Companies Agreed To Pay $1.35M In Penalties
Portfolio Pulse from Benzinga Newsdesk
The U.S. Department of Labor has announced a corporate-wide settlement agreement with Dollar Tree and Family Dollar to address safety and health hazards at their stores across the U.S. The companies have agreed to conduct a comprehensive assessment of the root causes of the violations and make operational changes to correct them within a two-year period. They have also agreed to pay $1.35 million in penalties. The agreement covers all Dollar Tree and Family Dollar stores within federal OSHA jurisdiction and may last up to two years.
August 23, 2023 | 1:42 pm
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Dollar Tree, which operates both Dollar Tree and Family Dollar stores, has agreed to a settlement with the U.S. Department of Labor to address safety and health hazards. The company will pay $1.35 million in penalties and is required to make significant operational changes.
The settlement agreement could have a negative short-term impact on Dollar Tree's stock price due to the financial penalty and the potential costs associated with implementing the required operational changes. However, in the long term, improved safety measures could enhance the company's reputation and operational efficiency.
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