Minimum Wage Shockwaves: McDonald’s CEO Warns of Nation-wide Labor Inflation Due to California Law!
Oak Brook, Illinois – McDonald’s CEO Chris Kempczinski recently expressed concerns over the rising wage inflation affecting restaurants nationwide, partly attributing it to the recent minimum wage legislation in California. He stated that the company anticipates high single-digit labor inflation, largely influenced by the impact of California’s wage increase implementation. The rise in labor costs has prompted McDonald’s to increase prices by a mid to high single-digit percentage due to the escalating costs of essential …