A thousand Starbucks workers at 100 U.S. stores nationwide are starting a three-day strike, as the tide of unionization continues to hit corporate America. SBUX stock fell Friday.
In a tweet Friday, the Starbucks Workers United described the three-day strike as the longest yet in its yearlong unionization campaign. Starbucks says it's been negotiating in good faith.
Starbucks Workers Strike Again
This marks the second big strike in a month by Starbucks workers in the U.S. On Nov. 17, workers at 110 Starbucks stores walked off the job for one day.
Like Starbucks, Apple and Amazon have been accused of union busting. Other companies, from airlines to railroads, also are dealing with unionization issues.
Rising wages and job strikes are seen hampering margins at these companies.
SBUX Stock
Shares gave up 1.2% to 98.83 on the stock market today. SBUX stock fell for a second straight week, but it remains above the 50-day moving average.
SBUX stock is close to moving back into a buy zone from a bottoming base cleared Nov. 9. The official buy point was 93.58.
Starbucks stock surged April 4 after Howard Schultz returned as CEO and has continued to rally since. Schultz reportedly has a history of opposing unions.
But Wall Street is worried about Starbucks' spending to deter unionization efforts. In April, Wedbush Securities and Citi Research both downgraded SBUX shares to neutral, citing labor issues in part.
Either wage hikes or unionization momentum would make him more bearish on SBUX stock, Citi Research analyst Jon Tower wrote in an April 11 note.
In their union campaigns, Starbucks workers have complained of low pay and rigid work schedules.
Apple workers cite issues around pay, scheduling and safety.
Amazon warehouse workers have protested the tracking "idle time" and repetitive work injuries.
Apple stock fell 1.5% on Friday to the lowest level since the end of June. Amazon stock shed 0.6% to just above its bear market low set in early November.
