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In reply to the discussion: Chipotle raises menu prices to offset employee wages [View all]Sapient Donkey
(1,568 posts)It looks like they have 60k+ employees in total. How many of those are the workers who would be affected by that? At least half, right? Probably more, but let's say 30k. Let's give a $5 increase (from $10 to $15), for someone working 35 hours a week that is about $7,300/yr increase per employee with a 52 week year. 7300 * 30000 is $220,500,000 increase in wage costs. I'm mostly pulling these numbers out of my ass, but I think it does give an idea of how much the wage increase will cost when dealing with it on that scale. We're not talking a couple million bucks, but more like $200 million to 300 million, I think.
They might be raising costs higher than they need to, but I don't have a problem in principle with some slight price increases to ensure some people get a fairer wage. If I have to pay $12.50 (4% of $12 is $0.48) instead of $12 for my taco bowel so that someone can get a wage that makes their life easier, then I'm not to worried about that. Even if I'm a huge Chipotle fan who spends $1k/yr there, that's a $40/yr increase for me so that some person who is probably struggling gets an extra $7-9k/yr
At least that is my view of this right now. I'm open to hear other thoughts.