CEO Of Biggest Fast Food Chain Comes Out In Favor Of A Minimum Wage Increase

One point that many if not all (myself included) forget in this debate, "Basically it applies evenly to everyone in the business. This increase would impact Subway plus every other competitor so it would not put any brand at a particular disadvantage." The "I" can't afford a wage increase line I hear from many employers. Well if "you" can't afford it, neither can your competitors. Minimum wage needs to increase and then be actuated to inflation.

The founder and CEO of Subway says a minimum wage increase wouldn’t be such a bad thing for his stores and workers and believes it should be changed so that wages rise automatically with inflation.

“I’m not concerned,” CEO Fred DeLuca said on Wednesday when CNBC asked him about minimum wage hikes. “Over the years, I’ve seen so many of these wage increases. I think it’s normal. It won’t have a negative impact hopefully, and that’s what I tell my workers.”

DeLuca’s support is noteworthy in part because of the size of his business. Subway has the most locations of any fast food chain. While a majority of small business owners support a $10.10 wage hike, major corporations of that scale typically oppose raising wages.

CEO Of Biggest Fast Food Chain Comes Out In Favor Of A Minimum Wage Increase