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YUM - California's fast-food chains weigh options after AB 1228
Yum! Brands Inc.
2024-04-14 09:00:00 ET
On April 1, California Assembly Bill 1228 took effect, raising the minimum wage by another 25% for fast-food employees on top of the $16 minimum wage mandate that was enacted at the beginning of the year. The back-to-back increase in labor costs for fast-food restaurants that operate within the state will make California the test ground for automation and “evolving business models” in an effort to trim labor expenses, according to BTIG analysts Peter Saleh and Ben Parente....