McDonald’s Minimum Wage Increases: Is MCD Breaking Its Promise?

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McDonald’s Corporation (NASDAQ:MCD) may be breaking its promise to increase its workers’ salary above minimum wage.

McDonald'sThe fast food chain made a pledge in 2015, saying it would increase the wages of all its employees to at least $1 above the minimum wage of that state or city, which the company did so back then. However, it appears as if it was a one-time wage hike as here we are three years later, and many of its workers are still making the same salary or a figure barely above that.

One McDonald’s employee in Chicago, Kayla Kuper, has worked at a corporate-owned store since 2015 and said her salary started at $11 an hour, a dollar above minimum wage. Since then, her salary has only ticked up 40 cents to $11.40 an hour.

“The wage increase in 2015 –- to be a $1 above the local minimum wage -– was applicable to the local wages on July 1, 2015, but was not a policy thereafter,” McDonald’s spokeswoman Terri Hickey said in an emailed statement. Many are calling the company out for failing to make a significant impact.

The wage hike came after a series of rallies took place in front of McDonald’s locations in which workers were seeking to get at least $15 an hour. Some believe that the company only increased wages slightly as a PR move and the lack of wage increases in recent years suggests the same.

MCD stock fell nearly 0.6% on Monday.


Article printed from InvestorPlace Media, https://investorplace.com/2018/04/mcdonalds-mcd-minimum-wage/.

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