McDonald's owner to take profit hit over California's $20 minimum wage:
businessinsider.com/mcdonalds-california-menu-could-become-unaffordable-to-cover-wage-hike-2024-3
Quick Glance: McDonald's owner faces profit loss due to California's $20 minimum wage
- A McDonald's franchisee in Los Angeles stated she would incur profit losses as prices couldn't be raised enough to offset the new wage.
- California's minimum wage for fast-food workers is increasing to $20 per hour from April 1, 25% higher than the state's current minimum wage.
- While price hikes may deter some fast-food customers, it is expected to boost wages for staff in other hourly occupations like retail workers.
- The new bill applies to limited-service restaurant chains with at least 60 restaurants nationally, affecting both corporate-owned and franchised restaurants.
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| Last Updated | Apr 06 |
| Total Articles | 4 |
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Half a million California workers will get $20 minimum wage, starting today: It's a big win for cooks, cashiers and other fast-food employees ...
npr.org/2024/04/01/1241743207/california-fast-food-workers-20-minimum-wage-april
Quick Glance: California: New Minimum Wage Impact on Fast Food Industry
- Most fast food workers in California will earn at least $20 per hour starting Monday, providing more financial stability to the profession and potentially raising prices in the high-cost state.
- The law was supported by the fast food franchise owners' trade association. However, many owners have expressed concerns about the law's impact on their businesses amid California's economic slowdown.
- California has doubled its minimum wage to $16 per hour over the last decade, with data showing increased wages and sustained employment levels.
- The law represents a negotiated compromise between the fast food industry and labor unions, applying to restaurants with limited table service and part of a national chain with at least 60 establishments.
California McDonald's franchisee responds to new fast-food worker wages: Restaurant owners have been looking for ways to offset the bigger paychecks ...
businessinsider.com/mcdonalds-franchisee-on-raising-prices-to-cover-california-minimum-wage-2024-4
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California McDonald's franchisee responds to new fast-food worker wages: Restaurant owners have been looking for ways to offset the bigger paychecks ...
businessinsider.com/mcdonalds-franchisee-on-raising-prices-to-cover-california-minimum-wage-2024-4
Paid articlePaidQuick Glance: California McDonald's franchisee responds to new wage requirements
- A McDonald's franchisee raised prices in response to California's new fast-food worker wage requirements.
- "I can't charge $20 for a Happy Meal," expressed the franchisee, concerned about retaining customers, in an interview with CNN.
- Restaurant owners are exploring strategies to mitigate the impact of the increased wages.
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California fast-food workers will get $20 minimum wage, starting Monday: Debate is hot about the impact of a higher minimum wage. Half a million Californians ...
npr.org/2024/03/30/1241451631/california-fast-food-20-minimum-wage
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McDonald's owner to take profit hit over California's $20 minimum wage: A McDonald's franchisee in Los Angeles told KTLA 5 News she'd be taking a profit hit ...
businessinsider.com/mcdonalds-california-menu-could-become-unaffordable-to-cover-wage-hike-2024-3
Paid articlePaidQuick Glance: McDonald's owner faces profit loss due to California's $20 minimum wage
- A McDonald's franchisee in Los Angeles stated she would incur profit losses as prices couldn't be raised enough to offset the new wage.
- California's minimum wage for fast-food workers is increasing to $20 per hour from April 1, 25% higher than the state's current minimum wage.
- While price hikes may deter some fast-food customers, it is expected to boost wages for staff in other hourly occupations like retail workers.
- The new bill applies to limited-service restaurant chains with at least 60 restaurants nationally, affecting both corporate-owned and franchised restaurants.
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