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’
-
Multiple major chains are pulling out of Russia. As Russia continues to pursue its invasion of Ukraine, their global...
-
Domino’s just barely missed Q4 analyst expectations. Today, Domino’s Pizza released their total earnings for the fourth quarter of...
-
High-end liquor boosted sales by 11%. Beam Suntory, one of the largest producers of distilled beverages in the entire...
-
The CEO apologized to company shareholders. After a recent earnings guidance report, European food delivery company Delivery Hero suffered...
-
Reports of stalled growth have sent Meta reeling. For the fourth quarter, Facebook released its earnings under its new...
-
Mattel has won back the lucrative license from Hasbro. Back in 2016, Mattel lost the rights to produce dolls...
-
James Iannazzo hurled slurs and threats at the workers of a smoothie shop. On Sunday, Merrill Lynch financial advisor...
-
Walmart is planning for the advent of the Metaverse. Massive retail chain Walmart filed several trademarks at the tail-end...
-
The retailer is expecting an underwhelming quarter. Athletic apparel retailer Lululemon stated in a press release today that the...
-
Wood is cheaper, but prices remain firm. Lumber prices have tumbled in the last several months, erasing any gains...
-
Apple and Google can no longer force app developers to use their payment methods. A major point of contention...
-
The company reclaimed over $100 million from Steve Easterbrook. Back in 2019, McDonald’s CEO Steve Easterbrook was terminated from...