- Starbucks Corp (NASDAQ:SBUX) investors urge an outsider assessment of how it treats its labor force.
- The nonbinding proposal was approved in the light of a unionization wave across its cafes in the U.S., reported Bloomberg.
- In the vote, more than half of the investors wanted a worker rights assessment.
- The report noted this might set an example for other corporate giants that face similar stockholder resolutions, including Walmart Inc (NYSE:WMT), Amazon.Com, Inc. (NASDAQ:AMZN), and CVS Health Corp (NYSE:CVS).
- The company is also facing accusations from the U.S. National Labor Relations Board prosecutors that its antiunion practices have flouted the law.
- Companies are increasingly being nudged to stay accountable for just employee treatment, especially lower-paid employees.
- In Starbucks, about 300 of the U.S. locations have voted to unionize, asking for better working conditions.
- The assessment will be one of the first challenges for the new CEO, Laxman Narasimhan, who succeeded Howard Schultz recently.
- Price Action: SBUX shares closed higher by 1.92% at $100.62 on Wednesday.
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