Teamsters Says 3-Year Extension Agreement Includes A 10% Wage Increase Effective Immediately; Includes Mandatory 4% Company-funded 401(K) Contributions With An Additional Matching Component
Portfolio Pulse from Benzinga Newsdesk
Teamsters Union has announced a 3-year extension agreement that includes a 10% wage increase effective immediately. The agreement also includes mandatory 4% company-funded 401(K) contributions with an additional matching component.
October 13, 2023 | 8:45 pm
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The 3-year extension agreement announced by Teamsters Union, which includes a 10% wage increase and 4% company-funded 401(K) contributions, may impact Southwest Airlines Co. (LUV) as it could increase their labor costs.
The 10% wage increase and 4% company-funded 401(K) contributions announced by Teamsters Union could lead to increased labor costs for companies like Southwest Airlines Co. (LUV). Increased labor costs can negatively impact a company's profitability, which could potentially lead to a decrease in its stock price in the short term.
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