Labor and talent
73 of 521 companies added a paragraph in Risk Factors that uses one of these words:
labor shortage, labor union, labor unions, unionized, collective bargaining, key personnel, attract and retain.
The paragraph is in the latest 10-K and nothing like it was in the one before.
It counts text; it does not say how serious a risk is. Words in capitals only (such as AI) must be in capitals.
By sector
Sector is the SEC's industry description of the company. Each count opens that sector's quotes below.
| Sector | Companies | Compared |
|---|---|---|
| Air Courier Services | 1 | 1 |
| Farm Machinery & Equipment | 1 | 1 |
| Food and Kindred Products | 1 | 1 |
| Meat Packing Plants | 1 | 1 |
| Misc Industrial & Commercial Machinery & Equipment | 1 | 1 |
| Miscellaneous Manufacturing Industries | 1 | 1 |
| Paper Mills | 1 | 1 |
| Real Estate Operators (No Developers) & Lessors | 1 | 1 |
| Retail-Retail Stores, NEC | 1 | 1 |
| Services-Engineering, Accounting, Research, Management | 1 | 1 |
| Services-Management Services | 1 | 1 |
| Services-Misc Health & Allied Services, NEC | 1 | 1 |
| Railroads, Line-Haul Operating | 2 | 3 |
| Search, Detection, Navigation, Guidance, Aeronautical Sys | 2 | 4 |
| Computer Peripheral Equipment, NEC | 1 | 2 |
| Cutlery, Handtools & General Hardware | 1 | 2 |
| Mining & Quarrying of Nonmetallic Minerals (No Fuels) | 1 | 2 |
| Printed Circuit Boards | 1 | 2 |
| Rubber & Plastics Footwear | 1 | 2 |
| Services-Medical Laboratories | 1 | 2 |
| Wholesale-Groceries & Related Products | 1 | 2 |
| Finance Services | 12 | 28 |
| Beverages | 2 | 5 |
| Orthopedic, Prosthetic & Surgical Appliances & Supplies | 2 | 5 |
| General Industrial Machinery & Equipment | 1 | 3 |
| Measuring & Controlling Devices, NEC | 1 | 3 |
| Perfumes, Cosmetics & Other Toilet Preparations | 1 | 3 |
| Water Transportation | 1 | 3 |
| Pharmaceutical Preparations | 3 | 11 |
| Investment Advice | 2 | 8 |
| Electronic & Other Electrical Equipment (No Computer Equip) | 1 | 4 |
| Motor Vehicles & Passenger Car Bodies | 1 | 4 |
| Retail-Eating Places | 1 | 4 |
| Security & Commodity Brokers, Dealers, Exchanges & Services | 1 | 4 |
| Services-Computer Processing & Data Preparation | 1 | 4 |
| Semiconductors & Related Devices | 3 | 15 |
| Biological Products, (No Diagnostic Substances) | 1 | 5 |
| Computer Storage Devices | 1 | 5 |
| Services-Computer Programming, Data Processing, Etc. | 1 | 5 |
| National Commercial Banks | 2 | 11 |
| State Commercial Banks | 1 | 6 |
| Crude Petroleum & Natural Gas | 1 | 7 |
| Electric Services | 2 | 15 |
| Services-Business Services, NEC | 2 | 16 |
| Real Estate Investment Trusts | 3 | 27 |
| Services-Prepackaged Software | 2 | 19 |
| Surgical & Medical Instruments & Apparatus | 1 | 10 |
119 paragraphs · Farm Machinery & Equipment show all sectors
Many of our production and maintenance employees are represented by labor unions under various collective bargaining agreements with different expiration dates. There is no certainty that we will successfully negotiate new agreements with these unions that extend beyond the current expiration dates, or that these new agreements will be on terms that will allow us to be competitive.
Read in the 10-K filed Dec 18, 2025 ↗
In addition, additional employees may choose to join or seek recognition for forming a labor union. If additional employees organize in the future, such employees may threaten and/or engage in work stoppages or organize campaigns. The outcomes from such actions may affect our reputation, and could adversely affect our business, results of operations, and financial condition.
Read in the 10-K filed Dec 18, 2025 ↗