Business
Empire reaches important five-year labour agreement in Alberta
Empire reaches important five-year labour agreement in Alberta Canada NewsWire S...
About this update from Empire Co Ltd Class A
[{"type":"text","content":"\n\n\n\nEmpire reaches important five-year labour agreement in Alberta\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nSTELLARTON, NS, Aug. 11, 2020\n\n\n\nNew agreement enables further capital investment in Safeway network and FreshCo expansion into the province of Alberta\nNew collective bargaining agreement positions Empire on a level playing field to compete in the Alberta market One-time retroactive lump sum payment to teammates of approximately $15.6 million pre-tax ($0.04 per share) Framework in place to convert some existing Safeway locations to FreshCo STELLARTON, NS, Aug. 11, 2020 /CNW/ - Today, Empire Company Limited (\"Empire\" or the \"Company\") (TSX: EMP.A) announced the ratification of a new Collective Bargaining Agreement (\"CBA\") for Alberta Safeway stores with UFCW 401, the Union representing the majority of its Safeway teammates in Alberta. The five-year CBA is competitive within the Alberta market, now placing Empire on a level playing field and providing flexibility and stability to better manage operational and labour costs in the province.\n\"We've committed to grow our market share through Project Horizon and strengthening our Safeway banner in Western Canada is important to our success,\" said Michael Medline, President & CEO, Empire. \"Our Safeway teammates are incredibly committed to their customers and the Safeway brand and this collective agreement provides us with the stability we need to invest in our Safeway network in Alberta. We have now finalized fair and competitive labour agreements for all markets in the West, enabling us to push forward with our plans to invest in Safeway and expand FreshCo.\"\nThe CBA includes a one-time retroactive lump sum payment to Safeway Alberta teammates for hours worked over the past three years. The cost of the one-time lump sum payment is estimated to be approximately $15.6 million pre-tax ($0.04 per share) and will be charged to operating earnings in the first quarter of fiscal 2021.\nThe Company has also made a commitment to invest $200 million i...