#Romates, we know you love Chipotle, but you’ve got to start saving a few extra coins to pay, thanks to the company’s new higher prices. Chipotle recently confirmed that it is officially raising the prices of all menus by up to 4% to cover the cost of raising the wages of the company’s employees to $ 15 an hour.
@CNN reports that Chipotle is taking the necessary steps to deliver on its promise last month to raise the wages of the company’s employees, but to do so, prices are set to rise significantly. Popular fast-food restaurant chain Tex-Mex is raising menu prices by about 3.5% to 4% to account for higher employee salaries, according to Chipotle’s CFO John Hartung. “You take a price increase of about 4% to cover the dollar cost of the additional labor,” he said at a recent press conference.
Last month, Chipotle announced plans to universally raise employee wages to $ 15 an hour, while revealing plans to hire 20,000 new employees before the official start of the summer season in just a few weeks. In addition, Chipotle softens the terms of employment by also offering a referral bonus of $ 200 to employees. To show that growth within the company is a definite possibility, the company also said that employees can be promoted to a CEO position within an average of three and a half years, a position with a estimated annual salary of $ 100,000.
This is a positive turning point for Chipotle, as the company was in hot water in April when it was hit by a New York City lawsuit over its largely questionable labor practices. The terms of the pending lawsuit allege the company broke the law by failing to give its employees less busy schedules.
Responding to the NYC lawsuit, Laurie Schalow, director of corporate affairs for the company, said in a statement, “We have a habit of not commenting on disputes and we will not in this case.”
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