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MONDELEZ INTERNATIONAL, INC.

(MDLZ)
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Mondelez Workers End Strike, to Resume Work This Week

09/20/2021 | 01:08am EDT

By Yifan Wang

Workers at Mondelez International Inc., maker of Oreo cookies, Wheat Thins and other snacks, have ended a weekslong strike as union members overwhelmingly accepted a new four-year contract.

The Chicago-based maker of Nabisco-brand crackers and other products said Saturday that employees, who were on strike at three of the four U.S. bakeries Mondelez owns, would resume work this week.

The new contract is retroactive to March 1 and includes ratification bonuses, hourly wage increases and a higher company match for 401(k) contributions, among other changes, Mondelez said in a statement.

The workers' union said the outcome "will benefit all [union] members and working people around the country for years to come."

The strike, in protest of proposals to increase shift time and limit access to overtime pay, among others raised during contract negotiations, began Aug. 10 in Oregon and quickly spread to facilities in Colorado, Illinois, Georgia and Virginia.

Disruptions to snack production stemming from the strike have added to supply challenges for food sellers since the start of the pandemic last year, much of it driven by shortages of labor and raw materials.

Write to Yifan Wang at yifan.wang@wsj.com

(END) Dow Jones Newswires

09-20-21 0107ET

Stocks mentioned in the article
ChangeLast1st jan.
MONDELEZ INTERNATIONAL, INC. -0.79% 60.15 Delayed Quote.2.87%
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Financials (USD)
Sales 2021 28 611 M - -
Net income 2021 3 991 M - -
Net Debt 2021 17 595 M - -
P/E ratio 2021 21,6x
Yield 2021 2,20%
Capitalization 84 079 M 84 079 M -
EV / Sales 2021 3,55x
EV / Sales 2022 3,41x
Nbr of Employees 79 000
Free-Float 70,0%
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Mean consensus BUY
Number of Analysts 22
Last Close Price 60,15 $
Average target price 70,39 $
Spread / Average Target 17,0%
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Managers and Directors
Dirk van de Put Chairman & Chief Executive Officer
Luca Zaramella Chief Financial Officer & Executive Vice President
Robin S. Hargrove Executive VP-Research, Development & Quality
Javier Polit Chief Information Officer
Lois D. Juliber Independent Director
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