RETAIL UPDATE: In order to address the concerns over income inequality, the fast food giant McDonalds may raise its wages as reported by BBC news. It said the public focus on the issue may intensify over the coming months. The move would impact the profit margins of the company if the raise is not offset by raising the prices of the products as well. In its annual filing with a US financial regulator, McDonalds said the long-term trend was toward higher wages and social expenses in both mature and developing markets, which may intensify with increasing public focus on matters of income inequality. In December, the fast food workers held strikes in 100 cities across the US to demand for a minimum wage rage of $15 per hour. The firm warned that such strikes can adversely affect us or the suppliers, franchisees and others that are also part of the McDonalds system and whose performance has a material impact on our results.
Posted on: Wed, 05 Mar 2014 10:37:45 +0000
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