Zero companies are going under from increasing wages for their lowest earnings workers by 20%. The places hurting most are fast food and restaurants which have very little actual payroll cost once you amortize the amount of food they serve per hour. Increasing wages from $15/hr to (an absurd example) $50/hr at a mcdonald's here would cost less than 35c per customer assuming they serve at least 100 customers per hour (easily more in peak time).
The cost increase over the last 10y at every fast food place and restaurant near me has vastly exceeded 35 cents. Wage increases are inevitable and stagnation is only sustainable until normal people are priced out of living entirely and decide to flip the table.
They can easily afford it. If you dig into any of these companies finances you will see that payroll is generally less than 20% of their overall costs. In my area most workers are flocking to warehouse work as a major american retailer has bumped their starting wage to $25.50/hr plus benefits and is literally hiring people without any sort of phone screen or face to face interview. You will out a web form and get a start date by email.
The cost increase over the last 10y at every fast food place and restaurant near me has vastly exceeded 35 cents. Wage increases are inevitable and stagnation is only sustainable until normal people are priced out of living entirely and decide to flip the table.
They can easily afford it. If you dig into any of these companies finances you will see that payroll is generally less than 20% of their overall costs. In my area most workers are flocking to warehouse work as a major american retailer has bumped their starting wage to $25.50/hr plus benefits and is literally hiring people without any sort of phone screen or face to face interview. You will out a web form and get a start date by email.