McDonald's and Chipotle said they will raise menu prices in California to pay for the minimum wage hikes that Gov. Gavin Newsom recently signed into law.
Businesses need to charge for their products and services, what paying their employees a living wage affords.
Should their products become too expensive, less people will purchase them, and then they’ll need to decide whether or not to cut executive bonus pay, and shareholder dividends, cut back on their offerings, reduce the sizing, lower the quality or go out of business.
This is business, there are a myriad of things businesses do to get and stay profitable, though the corporations profits should not come at the expense of their labor forces ability to earn a living wage.
This is business, there are a myriad of things businesses do to get and stay profitable, though the corporations profits should not come at the expense of their labor forces ability to earn a living wage.
Hiking prices in response to increasing wages to a reasonable level is coming at the expense of their labor forces ability to earn a living wage.
That’s precisely how it should work.
Businesses need to charge for their products and services, what paying their employees a living wage affords.
Should their products become too expensive, less people will purchase them, and then they’ll need to decide whether or not to cut executive bonus pay, and shareholder dividends, cut back on their offerings, reduce the sizing, lower the quality or go out of business.
This is business, there are a myriad of things businesses do to get and stay profitable, though the corporations profits should not come at the expense of their labor forces ability to earn a living wage.
Hiking prices in response to increasing wages to a reasonable level is coming at the expense of their labor forces ability to earn a living wage.