Store employees are worried layoffs may follow a merger.
Recently, two of the largest grocery supermarket chains in the United States, Kroger and Albertsons, announced their intents to merge into a single, currently-unnamed entity. The two have submitted a formal proposal for the merger to the Federal Trade Commission and are awaiting permission. However, while the chains wait, their employees have expressed concerns.
Colorado and other states are investigating the proposed merger between grocery store giants Kroger and Albertsons.
Antitrust advocates immediately spoke out against the deal, saying the merger could cause higher prices, lower wages and job cuts.https://t.co/E4CqQpI6vq
— CPR News (@CPRNews) December 12, 2022
Unions representing both Kroger and Albertsons employees have publicly voiced their opposition to the merger, saying that combining two of the country’s largest chains would not only be detrimental from competition and pricing standpoints, adversely affecting customers, but could result in widespread layoffs for the employees.
Naomi Oligario, an Albertsons worker, recalled to The Guardian the turmoil that arose when the Safeway she worked at was acquired, including layoffs, price hikes, and general confusion and dissatisfaction. “It was a fiasco, and heart-wrenching, because some people with more seniority than myself didn’t get their jobs back,” said Oligario. “It’s nerve-racking to think that we might have to go through that whole fiasco again.”
“The Kroger and Albertsons CEOs, they’re there to make it sound good for them to make the merger go through. They’re not thinking about the workers, they’re not thinking about the consumers. They’re thinking about their pockets,” added Oligario.
Colorado will lead a multi-state investigation into the proposed $25 billion merger between King Soopers’ parent company and Albertsons, which operates Safeway, Attorney General Phil Weiser announced Thursday. https://t.co/pkqNTGJehK
— The Denver Post (@denverpost) December 8, 2022
A Kroger spokesperson told The Guardian that “We are committed to building on our track record of supporting associates by investing $1bn to continue raising associate wages and comprehensive benefits following the merger close.
“Kroger will not close any stores, distribution centers or manufacturing facilities as a result of this merger, including stores that may need to be divested to obtain regulatory approval.”
Maxwell Frost Denied DC Apartment Due to Low Credit
FromSoftware Explains Development of ‘Armored Core 6’
-
Consumer prices in the United States increased at the slowest rate in over three years last month, raising hopes...
-
In a significant shake-up at Starbucks, Laxman Narasimhan has stepped down from his role as CEO and board member...
-
JPMorgan Chase is set to release its second-quarter earnings report before the opening bell on Friday, July 14. Investors...
-
The Federal Reserve announced today that all 31 banks participating in its annual stress test have demonstrated their ability...
-
Wednesday is poised to be a pivotal day for economic news, as investors and economists brace for a crucial...
-
AMC Entertainment Holdings Inc. successfully raised approximately $250 million through a stock sale completed on Monday, coinciding with the...
-
Bank of America has reported impressive first-quarter earnings, surpassing analysts’ estimates for both profit and revenue, driven by better-than-expected...
-
Ken Griffin, the founder and CEO of Citadel, emphasized the importance of prudence in the Federal Reserve’s strategy regarding...
-
Michael Saylor, a prominent figure in the world of cryptocurrency, has seen significant gains this week as the value...
-
The Office for National Statistics (ONS) released official figures on Wednesday, revealing that the United Kingdom posted a record...
-
As scrutiny intensifies, Fujitsu faces repercussions for its role in the Post Office scandal. The UK government has issued...
-
Tech Billionaire Proposes Renaming Wikipedia to ‘Dickipedia’ in Exchange for Record Donation In a recent social media spectacle, tech...