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Did you see the article/comment from Chipotle's CEO about the impact of increasing wages? Going up to $15/hour would increase menu prices between 2-3%. Labor p
by greedo 5y ago
Did you see the article/comment from Chipotle's CEO about the impact of increasing wages? Going up to $15/hour would increase menu prices between 2-3%.
Labor prices have been low forever. Businesses have been taking advantage of low labor costs for service jobs literally for decades, pocketing the profits while expecting the government to fill the gaps with welfare/SNAP/EITC etc. And a good portion of this labor segment has decided (after experiencing the COVID lockdowns) that they don't need to put up with crap wages for a crap job.
I worked in the restaurant biz for over two decades, and it disgusts me how much it (and other service jobs) take advantage of employees. I was repeatedly told that every time the minimum wage went up, we'd have to lay off employees, or cut benefits etc. And every time, net income went up for every place I worked. It's just BS.
https://www.restaurantdive.com/news/chipotle-cfo-15-minimum-wage-would-be-very-manageable-with-menu-price-h/598904/ https://www.restaurantdive.com/news/chipotle-cfo-15-minimum-...