Cerberus Capital Management, the private equity firm that owns Albertsons/Safeway, "is trying to abandon Safeway’s promise to secure our pension benefits," reports UFCW Local 400. "Without this promise, current and future retirees may see significant cuts to their pension benefits, or lose them all together." That puts nearly 60,000 current or future retirees at risk of losing their pension benefits. "Safeway, and its private equity owner Cerberus Capital Management, are profitable," says Local 400. "It’s just plain wrong to take benefits away from retirees who spent their careers working hard to make these companies successful."
The Safeway workers are holding daily actions through Saturday (see Calendar).
The Safeway workers are holding daily actions through Saturday (see Calendar).