The clock is ticking for Issaquah-based Costco and the Teamsters Union to reach an agreement over a new contract for about 18,000 workers across the country.

Thousand of Costco Teamsters across the U.S. are preparing to strike by the end of the month if the company does not present a "fair contract offer," the union says.

More than 18,000 Costco workers will be walking picket lines in less than two weeks if a labor dispute over wages and benefits is not resolved, according to the Teamsters union. Members voted by an 85% margin to authorize a strike when their current contract expires on Jan. 31, the union announced on Sunday.