California food chains laying off workers ahead of new minimum wage law [FOX Business Network]
FAT Brands Inc. - Class B (FATBB)
Company Research
Source: FOX Business Network
Some California fast-food locations are letting go of workers ahead of a new $20 minimum wage law slated to take effect in April that could dramatically impact their bottom lines. Several eateries, particularly pizza chains, have begun to cut jobs, in an effort to get ahead of the possible financial repercussions, The Wall Street Journal reported. Michael Ojeda, 29, a Pizza Hut driver in Ontario, Calif., told the newspaper that he received a notice from Pizza Hut franchisee Southern California Pizza in December informing him that his last day of work would be in February. "Pizza Hut was my career for nearly a decade and with little to no notice it was taken away," said Ojeda. Last year, multiple Pizza Hut franchises in California filed notices to comply with the Worker Adjustment and Retraining Notification Act, saying they were discontinuing their delivery services. Many of the services were delivery driver jobs. In December, Southern California Pizza Co. announced layoffs
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