So far in 2023, McDondald's has spent just a bit over 2B on stock buybacks to "increase their shareholder's value". According to the wiki, they have 200,000 employees.
That's a $10,000 bonus/employee assuming equal distribution.
You really don't understand what you're talking about. Maybe you should actually read the link, do some research and apply some thought before you get offended for the poor corporation.
If you pulled your head from your fourth point of contact, you'd understand what a buyback is. Then you might do further research and notice that over the last four years, McDonald's, on average, spends 3b/year on buybacks rather than spend the money on paying a decent wage for their employees.
Or, you can keep making shit up to fit your bullshit world view of "corporations great, every who works is just greedy".
Pretty sure I already know the way you'll go. I've given you a start for things to look at, it's the best I can do for the youth of today.
I’m not, but I also don’t think you understand, why it would still be necessary to raise prices on their food to pay a good bit higher wage.
You're right, I definitely don't understand.
$163/month, globally for all employees, does absolutely nothing for a person (and yeah, that's sarcasm, when I was working equivalent level jobs, about another $.80/hour after taxes would have been nice) and isn't an example of the company going for profits over employees. Besides, we're only talking about California getting the price increase right? I mean they're not going to look at raising prices everywhere. So... Let's look at the state.
According to the this website a Big Mac in California, on average is $5.89.
Average starting rate in California appears to be $16-18/hour for crew members according to generic "mcdonalds hiring search followed by a city name... So, we'll call it $17/hour to start? Makes sense that they'd need to raise the prices.
Not a big fan of McDonald's, I wonder how that's going to affect me at the equivalent fast food place in the same state that I like: In-n-Out.
According to this site there was already a price hike in 2023 on the cost of the double-double by 24%, guess it's only going to get worse. $4.90 for that Big-Mac equivalent of a double-double. Huh, this is going to suck.
Starting pay at In-n-Out for a crew member is, let me see... The In-n-Out employment page shows the starting pay for crew members is $19.75/hr at any store I select.
So, two chains in the same state selling, pretty much the same product, doing the same work with an average pay differential of $2.75/hour.
You're absolutely right, McD's really does need to bump the price.
Two beef patties
1000 Island dressing (special sauce)
Lettuce
Cheese
Onions (raw by default, grilled on request)
Toasted Bun
You're absolutely correct. The difference between the two is staggering. I didn't realize sesame seeds and the extra piece of bun they stick in the middle of a Big Mac costs that much more.
Pickles, well, you can say "double-double with pickles" and they'll put them on at no extra cost. I suggest not making the mistake of saying "extra pickles" vs. "add pickles". They take it as a challenge.
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