Essential Grocery Store Workers Say: Stop Albertsons’ Dividend Payment
/FOR IMMEDIATE RELEASE
October 22, 2022
Contact: Tom Geiger, 206-604-3421
Union members and leaders available for media interviews
Seattle, WA – On the heels of the proposed merger between grocery giants Kroger and Albertsons, on Tuesday, Albertsons announced that it will pay out a $4 billion dividend to shareholders November 7, 2022. The 64,000+ hard-working members of UFCW 3000, UFCW 367 and Teamsters 38 strongly oppose this dividend payout and are calling upon elected officials and regulators to stop this payment and the resulting devaluation of the company at a time when consumers are facing crushing inflation.
“Taking billions in assets out of a company that is running well, employs hundreds of thousands of essential workers, and provides daily necessities for millions of customers is a bad idea for the workers as well as customers,” said Joe Mizrahi, Secretary Treasurer of UFCW 3000. “That $4 billion could be much-better spent to lower prices of food for consumers facing unprecedented levels of inflation, pay workers more or invest in safer stores for workers and customers. Our essential grocery store members will do everything we can to stop Albertsons from squeezing workers and customers to the bone to shower executives and shareholders with billions.”
UFCW is looking to regulators and elected officials to join us in putting public pressure on Albertsons to invest this $4 billion in workers and lower prices for families, rather than enriching executives and shareholders.
“Our stores are already underfunded,” said longtime grocery store worker Kyong Barry who works at the South Auburn Safeway/Albertsons store in Washington State and is a member of UFCW 3000. “Albertsons just wants to pay out stockholders and bosses instead of investing in workers like me or keeping our stores safer for customers. Paying $4 billion to stockholders is ridiculous when skyrocketing food prices are forcing people in our communities to go hungry. Albertsons should be lowering prices instead of padding our bosses’ pockets.”
# # #
