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McDonald’s and the Struggle with Income Inequality

The Huffington Post has reported that McDonald’s has been a recent target of protests aimed at pushing the fast-food industry to pay workers more. According to Fast Food Nation by Eric Schlosser, nearly one in eight workers in the U.S. have at some time been employed by McDonald’s. Headquartered in the United States, the McDonald’s Corporation is the world’s largest chain of hamburger fast food restaurants, serving around 68 million customers daily in 119 countries.

Income inequality is profound: The United States is now ranked 32nd out of 34 advanced national economies. McDonald’s is worried it might have to pay its own workers more. Protesters demanded a wage of $15 an hour, arguing the companies could afford to pay more, given their billions in profits.

A McDonald’s restaurant is operated by a franchisee, an affiliate, or the corporation itself. McDonald’s Corporation revenues come from the rent, royalties, and fees paid by the franchisees, as well as sales in company-operated restaurants.

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Don Thompson, McDonald’s CEO, according to the Huffington Post, claimed last year that the company has always been “an above minimum wage employer.”

In 2006, McDonald’s introduced its “Forever Young” brand by redesigning all of its restaurants, the first major redesign since the 1970s. McDonald’s has invested $1 billion to redesign nearly all of its 14,000 restaurants by 2015. According to a new study from a money-management firm, Columbia Management, income inequality is a “root cause” of the financial crisis and slow recovery. In 2012, McDonald’s Corporation had annual revenues of $27.5 billion, and profits of $5.5 billion. If you would like more information about employment opportunities with McDonald’s Corporation you can click here.

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Jaan Posted by on March 7, 2014. Filed under Business News,Home. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.

 

 

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