California effect: Chain closes nearly 50 locations citing rising cost of doing business

  • 📰 FoxBusiness
  • ⏱ Reading Time:
  • 16 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 53%

Business Business Headlines News

Business Business Latest News,Business Business Headlines

Another chain is shuttering several locations throughout California, citing a rising cost to do business in the state. However, locations in nearby states are staying open.

Rubio’s Coastal Grill is in the midst of closing 48 under performing locations throughout California due to the "rising cost of doing business in the state." It's following a trend of companies taking similar actions after feeling the stress of having to balance higher labor costs. About 13 of the closures were in the San Diego area, 24 were in the Los Angeles area and 11 were in northern California.

" It's also worth noting, according to Joffe, the actual cost of hiring a "fast food minimum wage employee" is more than $20 per hour given that employers must also pay federal Social Security and Medicare taxes, as well as state Unemployment Insurance and Employment Training Taxes.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 458. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Smart Supply Chain Management: Implementing IoT Technologies To Optimize Supply Chain VisibilityPrzemek Szleter is the founder and CEO of DAC.digital, with over 16 years of professional experience as a business & IT executive. Read Przemek Szleter's full executive profile here.
Source: ForbesTech - 🏆 318. / 59 Read more »

Gartner Supply Chain Top 25: 2024 Best Global Supply ChainWant to know what sets apart the best supply chain companies from the rest? Download the 2024 Gartner Supply Chain Top 25 eBook now and get inspired.
Source: Gartner_inc - 🏆 455. / 53 Read more »