UFCW International President Marc Perrone released the following statement:
“America’s 16 million retail workers have been on the frontlines of the COVID-19 pandemic from day one, helping ensure that our country’s families have the food and supplies they need. With COVID-19 wreaking havoc on our economy and driving many retailers out of business, we must not forget these brave workers who have kept our communities running during the crisis.
“This bill protects Americans who lose their jobs when businesses declare bankruptcy, ensuring that these workers receive the pay and benefits they have earned and making clear that these workers should never have to take a back seat to CEO payouts or Wall Street profits. With this pandemic forcing thousands of Americans out of jobs every week, we must put workers and families first.”
UFCW recently announced that in the first 100 days of COVID-19, there have already been 238 worker deaths and nearly 29,000 workers infected or exposed among its members in grocery stores, meatpacking plants, healthcare facilities, and other essential businesses.
UFCW announced its support today for the Protecting Employees and Retirees in Business Bankruptcies Act to safeguard the retirement security of the 1.3 million workers it represents. The bill is a response to the increase in employer bankruptcies resulting from the economic downturn caused by COVID-19 and aims to protect the employee retirement benefits endangered by these bankruptcies.
The Protecting Employees and Retirees in Business Bankruptcies Act will protect workers by:
- Improving Recoveries for Employees and Retirees
- Reducing Employees’ and Retirees’ Losses
- Restricting Excessive Executive Compensation Programs
Click here to read full background on the legislation.