NYC Fast-Food Workers Picket for More Pay

by Christopher Freeburn | November 30, 2012 3:12 pm

New York City 6 199x300 NYC Fast Food Workers Picket for More Pay[1]Workers at New York City fast food restaurants staged a series of walkouts and protests on Thursday, demanding unionization and higher wages[2].

As many as 200 workers took part in the labor action at various McDonald’s (NYSE:MCD[3]), Burger King (NYSE:BKW[4]) Yum! Brands’ (NYSE:YUM[5]) Taco Bell and Wendy‘s (NASDAQ:WEN[6]) locations throughout the city, making it largest ever coordinated job protests at fast food restaurants, the New York Times noted.

The labor protests were backed by Fast Food Forward, an organization that seeks to unionize fast food workers and boost wages to $15 a an hour. City politicians took note of the events, with several mayoral candidates — who are vying to replace outgoing Mayor Michael Bloomberg — praising the protests.

Last week, workers at a number of Wal-Mart (NYSE:WMT[7]) stores nationwide staged walkouts, demanding higher wages and union protection[8]. That effort was also organized by union-friendly groups. Wal-Mart said it had its best Black Friday ever, despite the actions, which affected only a fraction of its 1.4 million U.S. workers.

Shares of McDonald’s, Burger King and Wendy’s rose in Friday afternoon trading, but Yum! Brands’¬†shares plunged more than 9%.

Endnotes:
  1. [Image]: http://investorplace.com/wp-content/uploads/2011/05/New-York-City-6.jpg
  2. demanding unionization and higher wages: http://www.nytimes.com/2012/11/30/nyregion/fast-food-workers-in-new-york-city-rally-for-higher-wages.html?adxnnl=1&adxnnlx=1354305221-g/L7qGa2Nyy5yCYsY+nVpQ
  3. MCD: http://studio-5.financialcontent.com/investplace/quote?Symbol=MCD
  4. BKW: http://studio-5.financialcontent.com/investplace/quote?Symbol=BKW
  5. YUM: http://studio-5.financialcontent.com/investplace/quote?Symbol=YUM
  6. WEN: http://studio-5.financialcontent.com/investplace/quote?Symbol=WEN
  7. WMT: http://studio-5.financialcontent.com/investplace/quote?Symbol=WMT
  8. demanding higher wages and union protection: http://investorplace.com/2012/11/wal-mart-files-complaint-over-black-friday-strike-threat/

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