McDonalds May Make Raises to Minimum Wage Says CEO

McDonalds May Make Raises to Minimum Wage says CEO

For a long time there has been a stubborn reluctance by large businesses to consider siding with the present Administration's desire to raise the minimum wage in our country. There are many who believe the current minimum wage of $7.25 is just not sufficient wages for workers in today's economy. The battle over raising the minimum wage has been hotly contested for several years now.

There is one CEO now who may be easing his own retiscience to raising the minimum wage. McDonald's CEO, Don Thompson, has indicated that his company may be ready to go along with a raise in the minimum wage from $7.25 to $10.10. For a long time the McDonald's CEO stood firmly against such a raise believing it would hurt his business and force layoffs in the work place. However, hundreds of fast-food workers led protests outside the corporate headquarters in Oak Brook, Illinois, and thus brought pressure to bear upon the company's corporate executives to rethink their position on the minimum wage debate. Currently, Mr. Thompson himself is drawing a salary of $9.5 million in his executive position with McDonalds. 

Mr. Thompson has rightly stated that McDonals's is currently doing better than the current minimum wage ($7.25) by paying many of it's hourly employees $8 to $9 an hour. However, Mr. Thompson now believes that possibly the time has come for businesses to unite and support a new minimum wage level of $10.10.

He has indicated that McDonald's would support such a measure if it was introduced and work with their business budgets so that McDonald's enterprises remained profitable and workers would benefit from the increase in income. 

 

 

 

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