Do you want to pay more for your Chipotle burrito? Put a $15 minimum wage into effect.
In the company’s quarterly earnings call on Wednesday, Chipotle’s chief financial officer, Jack Hartung, said the fast-casual restaurant chain would see a significant increase in labor costs if a national $15 minimum wage hike is implemented, Business Insider reported.
President Joe Biden announced his support for raising the federal minimum wage to $15 an hour in his first speech of the campaign, and many other Democrats are pushing for it.
Hartung called the upward price pressure of such a hike “manageable,” saying it would represent a 10 percent increase in average wages for the chain.
“We’re not that far off of, like, for example, a $15 number. But let’s say, for example, that there’s going to be an across-the-board 10 percent increase in our wages,” he said. “And that would, to offset that with menu