Starbucks (NASDAQ:SBUX) is a hot topic today for a couple of reasons as the company holds its Red Cup Day event for 2022.
The first reason making SBUX stock trend is that event, which sees Starbucks offering special 2022 red cups to customers that order drinks today. The company does this every year and the cups have become collectibles among fans of the coffee chain.
What’s more newsworthy, though, is the strike that’s taking place at more than 100 Starbucks locations on Red Cup Day 2022. More than a thousand employees are taking part in the strike.
What’s Behind the Starbucks Red Cup Day 2022 Strike?
Starbucks employees are seeking to create a union that will allow them to better bargain with the coffee giant. However, attempts to do so haven’t gone well. That’s why employees are taking part in the strike in an effort to show the company they are serious.
Tyler Keeling, a Starbucks employee from California, told CNN Business the following about the strikes.
“This is to show them we’re not playing around […] We’re done with the their anti-union retaliation and them walking away from bargaining.”
How is the strike news treating SBUX stock today? Shares are down nearly 1% as of Thursday afternoon.
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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.