October 30, 2012 12:25 PM

Amid strike preparations, grocer Raley's tells workers it's losing millions

Confronting the gravest crisis in its 77-year history, Raley's has told its workers it's "losing millions of dollars" and needs wage concessions to remain viable. Raley's Chief Executive Michael Teel, facing a possible strike later this week, has told workers that 40 of its stores are losing money, some as much as $2 million a year apiece.

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