McDonald’s Franchisee to Give Workers $500K Over ‘Wage Theft’

More than 1,600 workers will share in the settlement

   

McDonald’s Franchisee to Give Workers $500K Over ‘Wage Theft’

Employees of one New York City McDonald’s (MCD) franchisee will share compensation for unpaid wages and benefits.

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Richard Cisneros, who owns seven McDonald’s franchises in the city, has agreed to pay $500,000 to more than 1,600 workers under a settlement with New York State’s attorney general. Cisneros was accused of shortchanging workers for regular hours, overtime and laundry allowances between 2007 and July 2013, in violation of state labor laws, TIME notes.

mcdonalds McDonald's Franchisee to Give Workers $500K Over 'Wage Theft'
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According to the state’s attorney general, the settlement includes back pay, damages and interest.

Most of the McDonald’s workers who will receive compensation under the settlement are paid minimum wage.

MCD stock dipped in Wednesday morning trading. Over the past year, McDonald’s stock has declined about 1%.

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Article printed from InvestorPlace Media, http://investorplace.com/2014/03/mcdonalds-franchisee-give-workers-500k-wage-theft/.

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