Chipotle facing 'challenging labor environment,' prompts 'big action': CFO [FOX Business Network]
Chipotle Mexican Grill, Inc. (CMG)
Last chipotle mexican grill, inc. earnings: 4/21 04:10 pm
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ir.chipotle.com
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Source: FOX Business Network
Chipotle CFO Jack Hartung discusses hitting record digital sales during the coronavirus pandemic as well as the challenges the company is facing amid rising inflation and a labor shortage. Chipotle Mexican Grill CFO Jack Hartung told " Mornings with Maria " on Thursday that the employee shortage has created the "most challenging labor environment" in his "long career in the restaurant industry." "We saw that in late April, early May, that it was harder to hold on to our folks, that they would leave to go somewhere down the road for a dollar an hour extra, for example," Hartung told FOX Business host Maria Bartiromo. He also noted that applications have been low for people applying to jobs at Chipotle, which prompted the company to take "big action in June." Hartung said Chipotle decided to increase employee wages by an average of two dollars to incentivize people to apply and stay with the company. He explained that across the country, the current average starting wage is a
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CMG
Earnings
- 2/6/24 - Beat
CMG
Sec Filings
- 4/8/24 - Form PRE
- 3/22/24 - Form 4
- 3/20/24 - Form 144
- CMG's page on the SEC website