'We Don't Plan On Stopping!' Teamsters' New Cannabis Contract In Illinois Raises Bar For Big Industry Players
Portfolio Pulse from Jelena Martinovic
Workers at five Sunnyside Dispensaries, a subsidiary of Cresco Labs Inc., have reached tentative agreements for first union contracts with Teamsters Local 777. The contracts include significant improvements such as an end to at-will employment, the right to representation during disciplinary matters, and 15% wage increases over the agreement's lifetime. Meanwhile, employees of Dragonfly Wellness, a medical marijuana dispensary in Salt Lake City, voted to join the United Food and Commercial Workers (UFCW).
September 29, 2023 | 1:05 pm
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Cresco Labs Inc., the parent company of Sunnyside Dispensaries, may face increased labor costs due to the new union contracts, which could impact its profitability in the short term.
The new union contracts at Sunnyside Dispensaries, a subsidiary of Cresco Labs, include significant improvements such as an end to at-will employment and 15% wage increases over the agreement's lifetime. These changes could lead to increased labor costs for Cresco Labs, which could impact its profitability in the short term.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Curaleaf Holdings Inc. may face increased labor costs and potential disruptions due to labor strikes at its cannabis dispensary in Midtown, Phoenix, Arizona.
The news of a peaceful rally organized by UFCW Local 99 advocating for the rights of the striking workers at Curaleaf Holdings Inc.'s cannabis dispensary in Midtown, Phoenix, Arizona, suggests potential labor issues at the company. This could lead to increased labor costs and potential disruptions in the short term.
CONFIDENCE 80
IMPORTANCE 65
RELEVANCE 50
NEGATIVE IMPACT
Green Thumb Industries Inc. may face increased labor costs due to a recent labor strike that resulted in the company raising wages by 50%.
The recent unfair labor practice strike at two Illinois Rise Cannabis dispensaries, which are owned by Green Thumb Industries, resulted in the company raising wages by 50%. This could lead to increased labor costs for Green Thumb Industries in the short term.
CONFIDENCE 80
IMPORTANCE 65
RELEVANCE 50