When did the Market Basket strike happen?
Demoulas, top, at a Market Basket supermarket, Thursday, Aug. 28, 2014, in Chelsea. A six-week standoff between thousands of employees of the New England supermarket chain and management ended when workers learned that beloved former CEO Demoulas was back in control after buying the company.
What was the 2014 Market Basket conflict about?
The protesters criticized the Market Basket board for putting money before people by choosing to pay its shareholders more instead of reinvesting in the business. Many employees also feared that the new leadership would cut benefits, wages, profit-sharing, and bonuses and raise prices.
Why was Arthur T fired from Market Basket?
The popular CEO of Boston grocery chain Market Basket was recently fired, and workers are furious. Arthur T. Demoulas was fired in June after a family dispute, according to Boston.com. Two more executives were fired that day, and seven resigned.
Who bought out Market Basket?
Market Basket, a family-owned grocery store located in Richland Township, is switching ownership to another well-known local family-owned business. On Wednesday, the Butler family announced that the store has been sold to McAneny Brothers, which will take over operations on March 1.
What was the Market Basket strike about?
The summer of 2014, thousands of employees walked off the job and rallied outside of the Market Basket headquarters in Tewksbury. They were not protesting poor work conditions or asking for higher wages. Instead, workers went on strike in support of an executive: they wanted ousted CEO Arthur T.
Is Market Basket a union?
Labor unions are looking for lessons in the recent worker victory at New England supermarket chain Market Basket. But Market Basket is not making union history. Its workers are nonunion.
When did demoulas become market basket?
Market Basket today After President Arthur T. Demoulas and his sisters gained control of the company in August 2014, Demoulas announced that he hoped to open two or three of the stalled stores by the end of the year.
How was the Market Basket issue resolved?
By the end of August 2014, Market Basket shareholders approved an agreement to put Arthur T back in charge, buying the company from rival relatives, including cousin Arthur S. Demoulas. It was an unprecedented walkout and success for store employees and customers to successfully challenge a board.
Is Market Basket a chain?
DeMoulas Super Markets, Inc., under the trade name Market Basket, is a chain of 90 supermarkets in New Hampshire, Massachusetts, Maine, and Rhode Island in the United States, with headquarters in Tewksbury, Massachusetts.
Is Market Basket a good company?
In a very competitive industry where margins are low and sales are hard fought every single day, Market Basket performs well against encroaching giants and big box discounters. The company has been able to keep its prices low and highly competitive, in part, because the company, not the family, owns its real estate.
What happened at the market basket protest?
Market Basket protests. On June 23, 2014, the Board of Directors of DeMoulas Super Markets, Inc. (led by Arthur S. Demoulas ), the company that runs the Market Basket chain of supermarkets, fired President and CEO Arthur T. Demoulas. Demoulas’s dismissal resulted in protests from the company’s employees and customers.
What’s going on at market baskets?
And that has come with dire consequences. There have been two weeks of protests, sparked by the firing of employees who had petitioned to have Arthur T reinstated, which have left the shelves and aisles at most Market Baskets bare. According to one estimate, the company is losing $10m a day.
What does the Demoulas firing mean for Market Basket employees?
Rather, those employees view his firing and the subsequent leadership change – made at the behest of a board controlled by a rival faction of the Demoulas family – as eroding the company’s commitment to middle-class workers and shoppers. Market Basket stores are not Whole Foods – they do not sell $10 juice or filet mignon.
What happened to Arthur T at Market Basket?
25 June 2014: Arthur T is ousted as president by the board of directors, controlled by Arthur S; new co-chief executives, James Gooch and Felicia Thornton are appointed 20 July 2014: Market Basket fires eight workers who were trying to get Arthur T reinstated