SYY Sysco Corporation

Sysco Offers Houston Colleagues Unprecedented Wage Increases, Improved Benefits and More Time Off, Teamsters’ Strike Call Harms Our Colleagues

Sysco Offers Houston Colleagues Unprecedented Wage Increases, Improved Benefits and More Time Off, Teamsters’ Strike Call Harms Our Colleagues

Teamsters have not been serious about reaching an agreement, Sysco calls on union to reach an agreement to avoid strikes that harm colleagues and the community

HOUSTON, Jan. 13, 2025 (GLOBE NEWSWIRE) -- Today, Sysco Corporation (NYSE:SYY), the leading global foodservice distribution company, called on the International Brotherhood of Teamsters (IBT) to stop threatening strikes at its companies in multiple states and to start serious negotiations so Houston colleagues can enjoy the unprecedented wage increases we have offered.

Sysco has been negotiating in good faith for several months with the goal of reaching an agreement by contract expiration on January 17. Sysco is committed to reaching an agreement that rewards our Houston colleagues with generous wage increases and improved benefits while balancing the company’s business needs. The Teamsters’ allegations are false and misleading. Their actions harm our colleagues, their families, and our community partners, including hospitals, nursing homes, and schools.

Sysco’s offer includes wage increases in Year 1 of 8.5% for warehouse colleagues and over 9% for delivery partners. Over the life of the contract, colleagues will see wages increase by 20%. In addition, this offer would award them additional vacation time, double time for over 60 hours of work, lower health care costs and receive nearly all other demands made by the union.

“Sysco cares about our colleagues, our customers and our community and our goal is to offer colleagues competitive wages, a supportive environment, and jobs that provide room for growth and development,” said Ron Phillips, Sysco’s executive vice president and chief human resources officer.

“This threat to engage in a multi-site strike is part of a coordinated national strategy by the IBT aimed at gaining attention and promoting the interest of the union rather than benefiting its local members,” Phillips added. “Rather than negotiate responsibly to benefit our Sysco colleagues, the Teamsters have chosen to attack our business, prevent our colleagues from enjoying immediate, substantial wage increases, and harm our communities.”

Sysco has offered to pay a larger percentage of health benefits, decreasing coverage costs for colleagues while still providing them a generous package with multiple options.

“Sysco is committed to an outcome that positions our colleagues, company, and customers for long-term success,” Phillips continued. “The Teamsters’ actions harm our colleagues and their families, local businesses and the most vulnerable in our community who depend on Sysco to receive meals. We call on the Teamsters to negotiate seriously and represent their members.”

About Sysco

Sysco is the global leader in selling, marketing and distributing food products to restaurants, healthcare and educational facilities, lodging establishments and other customers who prepare meals away from home. Its family of products also includes equipment and supplies for the foodservice and hospitality industries. With more than 76,000 colleagues, the company operates 340 distribution facilities worldwide and serves approximately 730,000 customer locations. For fiscal year 2024 that ended June 29, 2024, the company generated sales of more than $78 billion. Information about our Sustainability program, including Sysco’s 2024 Sustainability Report and 2024 Diversity, Equity & Inclusion Report, can be found at .

For more information, visit  or connect with Sysco on Facebook at . For important news and information regarding Sysco, visit the Investor Relations section of the company’s Internet home page at , which Sysco plans to use as a primary channel for publishing key information to its investors, some of which may contain material and previously non-public information. In addition, investors should continue to review our news releases and filings with the SEC. It is possible that the information we disclose through any of these channels of distribution could be deemed to be material information.

For more information contact:
  
Investor ContactMedia Contact
Kevin KimCassandra Mauel
281-584-1219281-584-1390


EN
13/01/2025

Underlying

To request access to management, click here to engage with our
partner Phoenix-IR's CorporateAccessNetwork.com

Reports on Sysco Corporation

 PRESS RELEASE

Sysco Halts All Purchases from Fort Wayne, Ind. Facility that Supplied...

Sysco Halts All Purchases from Fort Wayne, Ind. Facility that Supplied Frozen Shakes Linked to Listeria Outbreak and Recalls Related Products HOUSTON, Feb. 21, 2025 (GLOBE NEWSWIRE) -- Today, Sysco Corporation, the leading global foodservice distribution company, recalled frozen supplemental shakes linked to a Listeria monocytogenes outbreak and halted all purchases of other products supplied by Lyons Magnus from a Fort Wayne, Ind., facility. Lyons Magnus supplied Sysco Imperial and Lyons ReadyCare supplemental shakes linked to the outbreak. Sysco is immediately removing all the recalled...

Sysco Corporation: Update to credit analysis

Our credit view of Sysco reflects its leading share of the resilient US food distribution industry and strong balance sheet, partly offset by weaker than historical credit metrics.

 PRESS RELEASE

Sysco to Webcast Presentation at the CAGNY 2025 Conference

Sysco to Webcast Presentation at the CAGNY 2025 Conference HOUSTON, Feb. 03, 2025 (GLOBE NEWSWIRE) -- Sysco Corporation (NYSE:SYY) today announced that the Company will webcast its presentation at the CAGNY 2025 Conference on Tuesday, Feb. 18, 2025, at 3:00 p.m. EST. The live webcast for the event can be accessed at . An archived replay of the webcast will be available shortly after the live event is completed. For purposes of public disclosure, including this and future similar events, Sysco uses the investor relations section of its website, found at , as the primary channel for publi...

 PRESS RELEASE

Sysco Reports Second Quarter Fiscal Year 2025 Results

Sysco Reports Second Quarter Fiscal Year 2025 Results HOUSTON, Jan. 28, 2025 (GLOBE NEWSWIRE) -- Sysco Corporation (NYSE: SYY) (“Sysco” or the “company”) today announced financial results for its 13-week second fiscal quarter ended December 28, 2024. Key financial results for the second quarter of fiscal year 2025 include the following (comparisons are to the same period in fiscal year 2024): Sales increased 4.5%; U.S. Foodservice volume increased 1.4%;Gross profit increased 3.9% to $3.7 billion;Operating income increased 1.7% to $712 million, and adjusted operating income increased 5.1...

 PRESS RELEASE

Sysco Offers Houston Colleagues Unprecedented Wage Increases, Improved...

Sysco Offers Houston Colleagues Unprecedented Wage Increases, Improved Benefits and More Time Off, Teamsters’ Strike Call Harms Our Colleagues Teamsters have not been serious about reaching an agreement, Sysco calls on union to reach an agreement to avoid strikes that harm colleagues and the community HOUSTON, Jan. 13, 2025 (GLOBE NEWSWIRE) -- Today, Sysco Corporation (NYSE:SYY), the leading global foodservice distribution company, called on the International Brotherhood of Teamsters (IBT) to stop threatening strikes at its companies in multiple states and to start serious negotiations ...

ResearchPool Subscriptions

Get the most out of your insights

Get in touch