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McDonald’s Announce Increase In Hourly Wages By 10% For +660 U.S. Owned Restaurants

By John F. Heerdink, Jr.

As per reports, McDonald’s Corporation (MCD) is looking to increase the hourly wages by an average of 10%, for more than 36,500 employees at more than 660 of its U.S. restaurants. The move comes as McDonald’s employees are planning to strike across 15 cities on May 19 to demand higher wages.

The change will apply to company-owned stores, and not affect the vast majority of McDonald’s workers, who are employed at the chain’s thousands of independently owned and operated restaurants.

“These increases, which have already begun, will be rolled out over the next several months and include shifting the entry level range for crew to at least $11-$17 an hour,” the fast-food giant said in a statement, adding that shift managers would be paid at least $15 an hour.

Companies are struggling to find workers as operations are beginning to resume amid vaccination rollouts to end the Covid-19 pandemic. Restaurants have specifically shed millions of jobs in 2020. McDonald’s aims to hire roughly 10,000 more hourly employees over the next three months.

Earlier this week, Chipotle also announced a $15 minimum wage for restaurant workers. Reportedly, last month a McDonald’s franchise in Florida offered $50 to anyone who would interview at the location.

McDonald’s Corporation (MCD) is the leading global foodservice retailer with nearly 37,000 locations in over 100 countries. The Corporation operates and franchises McDonald’s restaurants in the US and across the globe with over 90% of its restaurants owned and operated by local, independent businessmen and women. To learn more about McDonald’s Corporation (MCD) and to track its progress please visit the Vista Partners McDonald’s Coverage Page

Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives. 

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(Read Original Story: McDonald's is raising hourly wages for 36,5000 employees across the U.S. in Yahoo Finance)


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