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Stock impact report

Restaurants are short on staff. Chipotle says raising wages helps [CNN]

Chipotle Mexican Grill, Inc. (CMG) 
Last chipotle mexican grill, inc. earnings: 4/21 04:10 pm Check Earnings Report
US:NYSE Investor Relations: ir.chipotle.com
Company Research Source: CNN
Across the country, restaurants are struggling to hire staff as they try to return to normal and employees quit at elevated levels. In a bid to woo workers, Chipotle has increased the pay of its restaurant workers by about $2 per hour to an average of $15. The higher wages and other efforts have "worked very well," said CEO Brian Niccol during a Tuesday analyst call discussing the company's second quarter results. "We're in a really good labor spot," Niccol said. "We've made tremendous progress on what was really a difficult situation," in February and March, he said. "But now our hiring is caught up." Chipotle explained in May that the pay bump means workers earn between $11 and $18 an hour. That still leaves some workers below the $15 minimum supported by labor advocates and the President Chipotle may also have to do some damage control when it comes to its reputation as an employer: In April, New York City accused the company of hundreds of thousands of violations of a law Show less Read more
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