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The push for a $15 federal minimum wage could cause fast-food chains to raise prices or slash jobs by turning to automation instead, a former McDonald’s CEO said.
McDonald’s last month announced it was raising minimum pay at corporate-owned stores across the US amid the current labor shortage, and said that it was expected average hourly wages across the US to reach $15 by 2024.
Former McDonald’s CEO Ed Rensi told Fox Business that the chain would either lift prices, or turn to automation software – and ultimately cut jobs.
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