Fast-food restaurants in California are laying off workers to prepare for the $20 minimum wage hike [Business Insider]
McDonald's Corporation (MCD)
Last mcdonald's corporation earnings: 4/30 06:58 am
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Source: Business Insider
Restaurants are also raising prices to offset wages; some are worried about spooking diners. Fast-food restaurants in California are laying off hundreds of workers to cut back on costs as they prepare for the state's $20 minimum wage for fast-food workers that comes into force in April, a new report by The Wall Street Journal details. Two franchisees for Pizza Hut , with restaurants across various counties in California, have said they'd lay off around 1,200 workers as they scrap delivery-driver roles to rely on third-party delivery instead. Southern California Pizza Company, a Pizza Hut franchisee, said it planned to lay off nearly 850 workers in February, according to filings made under California's Worker Adjustment and Retraining Notification Act in December and viewed by Business Insider. In December, another Pizza Hut franchisee, PacPizza, and its affiliates filed plans to lay off more than 350 workers in February. And in February, Excalibur Pizza LLC, a Round Table P
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MCD
News
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MCD
Earnings
- 2/5/24 - Beat
MCD
Sec Filings
- 4/23/24 - Form 144
- 4/23/24 - Form 4
- 4/18/24 - Form PX14A6G
- MCD's page on the SEC website