Starbucks to Pay More Than $35.5 Million to New York City Workers in Settlement of Fair Workweek Law Violation

MT Newswires Live12-02

Starbucks (SBUX) will pay more than $35.5 million in restitution to over 15,000 workers and $3.4 million in civil penalties in settlement of New York City's Fair Workweek Law Violation, Mayor Eric Adams and Department of Consumer and Worker Protection Commissioner Vilda Vera Mayuga said Monday.

The settlement follows a multi-year investigation by the department that found Starbucks committing over 500,000 violations of the law since 2021, by denying workers the right to stable and predictable schedules, as well as the right to pick up additional hours and earn more, the New York City officials said.

Under the signed agreement, employees who worked for Starbucks in an hourly position in New York City will receive $50 for each week worked from July 4, 2021 through July 7, 2024, the New York City mayor and DCWP said.

Starbucks did not immediately respond to MT Newswires' request for comment.

Shares of the company were down nearly 2% in recent Monday trading.

Price: 85.48, Change: -1.61, Percent Change: -1.85

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment