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Cannabis Industry Learns Lesson As Teamsters Union Flexes Its Muscles

Benzinga · Sep 7, 2023 08:40

GTBIF -7.75% UNRV +0.00%

The 13-day unfair labor practice strike led byTeamsters Local 777in May at twoRise Cannabis dispensariesin Joliet and one in Niles, Illinois, which forced parent companyGreen Thumb IndustriesInc. (CSE:GTII) (OTCQX:GTBIF) to raise wages by 50%, has reached its conclusion.

What Happened

The first collectivebargaining agreementsbetweenRiseandmembers of Teamsters Local 777at three dispensarieshave been ratified, according to a Tuesday press release.

"Let this be a lesson to cannabis companies all across not just Illinois, but the entire country – Teamsters don't back down," saidJim Glimco, Local 777 president. "A lot of...

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more

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