Members of 13 New Jersey chapters of the United Food and Commercial Workers International Union voted earlier this week to approve a deal designed to help get their employer, A&P (Super Fresh, Pathmark), out of bankruptcy. The plan, which was approved 7,200 – 1,827, will lower wages by about three percent and decrease vacation time but keep the employee health plan free from any co-pays.
The Great Atlantic & Pacific Tea Company has more than 13,000 employees in New Jersey. It filed for bankruptcy protection last December, and passage of the deal by the unions sets the stage for the company to emerge from bankruptcy (pending court approval) thanks to a $490 million buyout bid by The Yucaipa Companies, a California-based investment firm.
