Retailers breathe sigh of relief as LA port strike ends
This is possibly one of the worst times for imported merchandise shipments to be delayed, as retailers are stocking their stores with items for the holiday gift giving season. However, two of the nation's busiest ports, in Los Angeles and Long Beach, California, were blocked by a workers' union strike. Fortunately, the week-long strike recently ended, and retailers are hoping they can get their holiday sales back on track.
According to Consumer Affairs, many merchants were worried throughout the eight-day blockade, which started after port workers discovered their employers had been outsourcing administrative positions to lower-wage employees. During the strike, approximately $1 billion a day was being lost by staff members and businesses that rely on the dock for incoming merchandise. The National Retail Federation stated that the strike was having a significant negative impact on retailers and their holiday season efforts.
Both ports reopened after eight days, as union workers reached a deal with their employers, reports USA Today. Businesses have agreed to drastically reduce their outsourced jobs along with modest rises in wage and pension benefits for staff members.
