Kroger-Albertsons Merger Moves Closer to Finalization, Throwing Thousands of Workers into Chaos Over Wages, Layoffs, Working Conditions
Workers at Kroger/Albertsons/Safeway and other related stores will suffer most of the consequences from the merger including layoffs, wage cuts, and exacerbation of unsafe working conditions
The capitalist game of corporate mergers, purchase-and-sale actions which push an industry closer and closer to monopolization, leaves workers out in the cold despite the corporate bosses protestations to the contrary. And the bureaucratized unions function more as mediators to help corporations avoid losing profits, rather than as genuine worker protection organizations.
The likely merger of the massive Kroger grocery empire with the almost-as-massive grocery chain of Albertsons and Safeway is on the verge of becoming a done deal. Over the past year, Kroger has been finalizing its plans to merge with Albertsons, consolidating into the largest grocery chain in U.S. history. As of December 8, 2023, the net worth of Kroger alone is $32.07 billion. Albertsons’ net worth as of December 8, 2023 was $12.78 billion.
In October 2022, Albertsons and Kroger announced the proposed merger, stating that they anticipated closing their $24.6 billion deal by early 2024. The two grocery mega-chains disclosed when the deal was announced that they would sell up to 650 stores.
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