Woolworths Group Ltd (AU:WOW) has released an update.
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Woolworths Group is grappling with significant industrial action at its distribution centers in Victoria and NSW, as negotiations with the United Workers Union remain unresolved over a pay dispute. The prolonged strike, seeking a 25% pay increase over three years, has already cost the company an estimated $50 million in Australian Food sales, with further impacts anticipated until the issue is resolved. Despite deploying contingency plans, the strike has caused stock limitations in Victoria, ACT, and NSW stores, affecting product availability during the crucial pre-Christmas period.
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