STARBUCKS CORPORATIO

SBUX
Real-time Estimate Quote. Real-time Estimate  - 10/20 10:15:43 am
88.585USD +1.12%

Chipotle, fast food brands set for hiring blitz

08/03/2020 | 11:07am

Chipotle is on another hiring spree as sales bounce back for the burrito chain.

An executive told Reuters the restaurant chain wants to hire 10,000 more workers in the coming months.

The expansion plans come on the heels of a hiring blitz in May, which already added about 8000 employees. Shares of the chain are up 30 percent since the start of the year.

The hiring plans come after the restaurant industry saw some of the most significant layoffs due to the health crisis. Roughly half the of the more than 12 million restaurant and bar workers employed in February lost their jobs in March and April.

But despite a sluggish recovery, McDonald's, Starbucks and Taco Bell's parent company Yum Brands are all seeing sales recover, and that could leave them needing to hire more cooks and cashiers.

Doughnut chain Dunkin' said in an earnings call it wants to hire 25,000 new restaurant employees, even as it plans to close underperforming units.

Papa John's said last week that it wanted to add another 10,000 workers - after already bringing on 20,000 earlier in the crisis as demand for pizza - particularly delivery - soared.

© Thomson Reuters 2020
Copier lien
Latest news about "Economy & Forex"
1m ago
1m ago
3m ago
5m ago
8m ago