On Friday, Sen. Bernie Sanders (I-Vt.) once again aimed at Starbucks Corp (NASDAQ:SBUX), arguing that the company's priorities are out of balance.
Sanders Calls Out Starbucks Over CEO's Massive Payday
In a post on X, he said the company rewarded its CEO Brian Niccol with an enormous package while refusing to reach an agreement with nearly 12,000 union workers.
Sanders said Starbucks has failed for nearly four years to finalize a contract with thousands of baristas who voted to unionize.
"This is what corporate greed is all about," he wrote, adding that he stands with the employees pushing for better conditions.
Workers Launch Longest Strike In Starbucks History
His comments came as Starbucks Workers United expanded an indefinite strike to more than 120 stores across 85 U.S. cities, demanding higher pay, improved staffing and schedules, and action on hundreds of alleged labor violations.
The walkout, timed around Red Cup Day and Black Friday, marks the longest labor stoppage in Starbucks' history.
Starbucks Pushes Back, Says Stores Remain Open
Starbucks said 99% of its U.S. locations remain open despite the walkouts and insisted the strike would not cause any significant disruption. A company spokesperson said Starbucks is prepared to resume negotiations whenever the union returns to the table, reported CNBC.
Workers United, which represents over 11,000 baristas at about 550 stores, says talks have stalled for months, with delegates rejecting a Starbucks proposal earlier this year that included annual wage increases.
Starbucks Q4 Revenue Tops Estimates While EPS Falls Short
In October, Starbucks posted fourth-quarter revenue of $9.57 billion, topping analyst expectations of $9.35 billion. However, its adjusted earnings came in at 52 cents per share, falling short of the 56 cents per share analysts anticipated, according to Benzinga Pro.
Overall net revenue rose 5% from a year earlier, while global comparable store sales increased 1%, supported by a 1% uptick in customer transactions.
Starbucks' stock shows a negative trend over the medium and long term, as investors remain cautious amid escalating labor disputes, but exhibits a positive trend in the short term, according to Benzinga Edge's Stock Rankings. Additional information about the stock and its peers can be found here.
Read Next:
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image via Shutterstock
© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
