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Sapient Donkey

(1,568 posts)
77. How much of a raise is it? I'm guessing $5 - $6?
Thu Jun 10, 2021, 12:26 AM
Jun 2021

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.

How about take less profit? SheltieLover Jun 2021 #1
After a year+ of COVID? FBaggins Jun 2021 #5
After a year+ of COVID? sheshe2 Jun 2021 #13
Come to New York; all the restaurants are full. brooklynite Jun 2021 #32
You have stated you are rich. sheshe2 Jun 2021 #40
Yes, I am rich...and I rarely go to expensive restaurants. brooklynite Jun 2021 #43
Where in my post did I suggest they are 1% 'ers? sheshe2 Jun 2021 #51
In that case, you think there are less wealthy people filling up the NYC restaurants. brooklynite Jun 2021 #52
Would you just stop. sheshe2 Jun 2021 #66
If people don't assert unsupported statements, I'll have nothing to say... brooklynite Jun 2021 #68
Keep digging. nt sheshe2 Jun 2021 #72
Like the unsupported assertion Trump would never be impeached twice? LanternWaste Jun 2021 #89
Restaurants have had a tough time. If people don't want to pay an additional 4%, pnwmom Jun 2021 #69
chipoltle 2020 earning report rdking647 Jun 2021 #20
Don't forget their stock prices, currently $1330. Lancero Jun 2021 #42
Chipotle had lines around the block during COVID NickB79 Jun 2021 #26
They should take less profit SheltieLover Jun 2021 #28
What expense are working class families shouldering in this case? brooklynite Jun 2021 #36
No working family is forced to go to any restaurant that raises its prices so its workers pnwmom Jun 2021 #70
Chipotle excels at takeout. Takeout soared in 2020. paleotn Jun 2021 #39
Lol they're doing great despite covid. ForgoTheConsequence Jun 2021 #86
Yup, god forbid if they don't make their profit quota for the investors... Oh the shame!!😂 mitch96 Jun 2021 #44
They will probably make a little less profit. everyonematters Jun 2021 #64
How much of a raise is it? I'm guessing $5 - $6? Sapient Donkey Jun 2021 #77
Agree. everyonematters Jun 2021 #81
I think most people would be willing to pay a little more to benefit those serving them. olegramps Jun 2021 #82
I Think It's Gotton to the Point Where I'm Asking This Question Every Day. ruet Jun 2021 #2
Consumers have the choice of not spending money at a restaurant. brooklynite Jun 2021 #33
Capitalism + Democracy is the best so far Tiger8 Jun 2021 #84
I'll agree capitalism is a dead end when I see a better alternative. GulfCoast66 Jun 2021 #65
In other words, pbmus Jun 2021 #79
I know the downside of capitalism, as well as the upside GulfCoast66 Jun 2021 #83
So... a 25 to 50% increase in employee wages equates to a 4% increase in menu price? enki23 Jun 2021 #3
As an economics teacher, it bothers me that this comes as news to people Bucky Jun 2021 #15
Good information--thank you! h2ebits Jun 2021 #50
One thing that killed me was starting wage at a job I had for 10 years, in 2009 was... Humanist_Activist Jun 2021 #63
I see the exact same thing in IT field Sapient Donkey Jun 2021 #87
The quote says it was an additional dollar increase MichMan Jun 2021 #16
Er.... no it doesn't. "Dollar cost" doesn't mean "the cost of one more dollar." enki23 Jun 2021 #27
So he's blaming the employees for the increase in menu prices... dixiechiken1 Jun 2021 #4
He took home $38 million in 2020 leftieNanner Jun 2021 #17
His salary would pay each employee about $400 oldsoftie Jun 2021 #60
I was trying to figure that out. Sapient Donkey Jun 2021 #88
But I thought... durablend Jun 2021 #6
Surely not!! paleotn Jun 2021 #46
Supply and demand. The 'free market', assholes. louis-t Jun 2021 #7
The fact is price of these foods was going up even before any increase in employee wages JI7 Jun 2021 #8
Off the top of my head... that should a about 30 or 35 cents JohnnyRingo Jun 2021 #9
I'm cool with that Jilly_in_VA Jun 2021 #10
Reminds me when Papa John's bitched about raising Pizza price $0.25 for ACA aeromanKC Jun 2021 #11
Papa John leftieNanner Jun 2021 #18
Don't forget the guy has a moat rpannier Jun 2021 #31
Should we send him leftieNanner Jun 2021 #38
I thought about that rpannier Jun 2021 #53
Seriously wryter2000 Jun 2021 #19
I Put My $$$ Where My Mouth Is COL Mustard Jun 2021 #12
Makes me feel a little better about eating there if they pay that amount to their workers. mucifer Jun 2021 #14
Plus they were one of the first places to offer GF meat leftieNanner Jun 2021 #21
I'll gladly pay an additional 30-40 cents so that employees can make a livable wage. Bleacher Creature Jun 2021 #22
This sums it up. badhair77 Jun 2021 #24
Ours has very limited hours on days when they're open, and the hours are irregular. badhair77 Jun 2021 #23
So? greenjar_01 Jun 2021 #25
If I ate at Chipotle twice a week NickB79 Jun 2021 #29
Dear me. . .he can't get by if it's multi-multi million salary and bonuses are only multi-millions AZLD4Candidate Jun 2021 #30
This is basic stuff. WarGamer Jun 2021 #34
Your facts are no good here!! oldsoftie Jun 2021 #62
Zero-Sum Capitalism I of the Eye Jun 2021 #35
I've eaten there once, eight years ago. I thought it was over priced garbage and Autumn Jun 2021 #37
Good! Nt Baked Potato Jun 2021 #41
My husband and I own two business. MontanaMama Jun 2021 #45
And I bet you guys have very low headcount turnover. paleotn Jun 2021 #48
You are 100% correct. MontanaMama Jun 2021 #78
You and your husband are magnificent gemstones 💎 pbmus Jun 2021 #80
Lord Forbid,,,,,,, Cryptoad Jun 2021 #47
Umm... PSPS Jun 2021 #49
Yeah, I Was About To Post This GB_RN Jun 2021 #58
Inflation is here... VarryOn Jun 2021 #54
So? Something on the menu that costs $9.99 now costs $10.39 Ferrets are Cool Jun 2021 #55
Chipotles relayerbob Jun 2021 #56
Okay. NurseJackie Jun 2021 #57
A business that can't pay its living wage is a failed business. Full stop, no exceptions. Orrex Jun 2021 #59
But they can pay living wages. There is no rule that says a business pnwmom Jun 2021 #71
I'd say that this is a good reason for slightly reducing the shareholder's profits Orrex Jun 2021 #74
+1000! n/t Hiawatha Pete Jun 2021 #85
No people in the know Soxderrube Jun 2021 #61
That would add a whopping 40 cents to a $10.00 burger Warpy Jun 2021 #67
Remember Chipotle's oh-so-wholesome "Scarecrow" ad? Grokenstein Jun 2021 #73
OK, but most of their cost is materials. nt Gore1FL Jun 2021 #75
Good! Hekate Jun 2021 #76
I was always lucky - I knew what I was doing and I owned a good tux. The $2.13/hr I got ... marble falls Jun 2021 #90
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