Starbucks Red Cup Day 2022: Workers at 100 Stores Are on Strike thumbnail

Starbucks Red Cup Day 2022: Workers at 100 Stores Are on Strike

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Starbucks Red Cup Day 2022 the Starbucks (SBUX Stock) logo on a sign outside of a coffee shop

Source: Grand Warszawski / Shutterstock.com

Starbucks (NASDAQ:SBUX) is a hot topic today for a couple of reasons on Wednesday as the company holds its Red Cup Day event for 2022.

The first is that event, which sees Starbucks offering special 2022 red cups to customers that order drinks from its today. The company does this every year and the cups have become collectibles among fans of the coffee chain.

What’s more newsworthy than that is a strike that’s taking place and more than 100 Starbucks locations on Red Cup Day 2022. This has over 2,000 SBUX employees 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 SBUX they are serious about the matter.

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 of the company’s stock are down nearly 1% as of Thursday afternoon.

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On the date of publication, William White did not have (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.