Chipotle CFO Sees Wage Inflation Easing Amid Pandemic
- Hartung says phased approach would work best for wage increase
- Company is halfway to target of hiring 15,000 new workers
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The global pandemic has alleviated upward pressure on worker pay in the U.S. and a higher federal minimum wage should be phased in rather than enacted suddenly, Chipotle Mexican Grill Inc. Chief Financial Officer Jack Hartung said.
The burrito chain’s current starting wage is more than $10 an hour at its restaurants, Hartung said, and its average hourly wage is about $13. That compares with the $15 hourly minimum proposed by President Joe Biden.