A former McDonald’s CEO says implementing $35,000 robots is less expensive in the long-term than paying employees $15 an hour — and who can blame him?
Ed Rensi, the former overlord of the Golden Arches, discussed his position on employee wages with FOX Business. Basically, he thinks we are all entitled babies. A short excerpt is below.
From FOX Business:
“I was at the National Restaurant Show yesterday and if you look at the robotic devices that are coming into the restaurant industry — it’s cheaper to buy a $35,000 robotic arm than it is to hire an employee who’s inefficient making $15 an hour bagging French fries — it’s nonsense and it’s very destructive and it’s inflationary and it’s going to cause a job loss across this country like you’re not going to believe,” said former McDonald’s (MCD) USA CEO Ed Rensi during an interview on the FOX Business Network’s Mornings with Maria.
He doubled down on his argument by suggesting a new wage system entirely:
“I think we ought to have a multi-faceted wage program in this country. If you’re a high school kid, you ought to have a student wage. If you’re an entry level worker you ought to have a separate wage. The states ought to manage this because they know more [about] what’s going on the ground than anybody in Washington D.C.,” he said.
I’m not going to pretend to be an economic expert — I dropped every college economics class I took before finals in a last-ditch effort to salvage my GPA — but this makes a lot of sense. I asked someone in upper management at my office what would happen if a federal $15 minimum wage increase was mandated and he literally scoffed and said, “Instead of eight interns per class, we’d hire maybe three — max.” That would suck for recent grads. Particularly me, a lifelong Professional Intern.
Look, $15 an hour is $120 a day before taxes. That’s $600 a week (How about that Grade A math, motherfuckers). Even in a major city like Chicago, that’s pretty solid — especially if your only skill is flipping beef patties. I speak from experience, because I have survived in this town for almost a year on less. And I work a job that requires, at minimum, a college degree. How sad is that?
With the minimum wage debate raging on and the new overtime rules taking effect for employees who make under $47,000 in salary, it’s definitely an interesting time to be a postgrad in the job market.
Terrified Excited to see how this all plays out..
[via FOX Business]