A potential labor strike at Macy’s could seriously derail the city’s plans to revitalize Union Square and cause holiday shopping chaos.
San Francisco has been fighting to lure tourists back to Union Square this holiday season with a number of measures including beefing up security.
But after three years of failed negotiations, the United Food and Commercial Workers Local 5 (UFCW5), the union representing retail workers, held a strike vote. If the vote passes, cashiers and customer service representatives at Macy’s could stop working this holiday season.
UFCW5 held closed voting at the Handlery Hotel in Union Square from 9am to 7pm on Tuesday.
The standoff reached a critical stage last week when the union alleged that Macy’s negotiators had abruptly abandoned negotiations. In an internal memo sent to union members seen by The Standard, UFCW5 also said Macy’s latest offer was unacceptable.
The union alleged that Macy’s wanted to eliminate senior positions, lay off salespeople and eliminate full-time job guarantees for sales staff, and the company offered less than a dollar in raises over the next three years.
Macy’s Inc. and the Union Square store were contacted for comment.
In November, London Mayor Breed and a number of business leaders unveiled a new plan to revitalize Union Square, which has been facing declining traffic in the wake of the pandemic and negative publicity from the virus outbreak.
UFCW5 and Macy’s have been in negotiations since June 2019 before agreeing to a brief extension of their existing contract in May. In Macy’s third-quarter annual report, the company said it operates “from a position of strong financial health — with appropriate levels of inventory, a strong balance sheet with sufficient capital, investment grade debt metrics and fixed interest rate debt with rising interest rates.” nature.”
According to the published balance sheet, net sales decreased by 3.9% compared to the same period last year, and increased by 1.1% compared to the same quarter in 2019.