Impact of California's Minimum Wage Hike on Fast-Food Chains
Thursday, 4 April 2024, 16:30
Impact Of California's Wage Hike: Chipotle, McDonald's And Starbucks Brace Consumers For Price Surges Across The State
As California’s minimum wage increases from $16 to $20, effective April 1, a ripple effect is sweeping through the fast-food industry, with giants like Chipotle, McDonald’s and Starbucks poised to implement price hikes. While the wage hike is intended to uplift and empower workers, it poses a challenge for businesses, which must grapple with increased costs. These expenses are passed on to consumers through higher product prices. Under the new mandate, fast-food chains operating 60 or more outlets...
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