By Sahid Fawaz
Fast food employers loudly claim that they cannot afford a living wage. But they have no problem paying CEOs obscene sums of money.
“Greg Creed, the CEO of Yum! Brands, which owns KFC, Pizza Hut, and Taco Bell, made 1,358 more than the median employee,” reports Vox.com. “His 2017 compensation: $12.4 million. The median employee’s pay, including full-time and part-time: $9,111.”
USA Today notes that Yum! Brands “is well known for paying a large portion of its workers either minimum wage or just slightly over that. For example, a crew member at Taco Bell makes an average of just $7.76 an hour, according to Glassdoor . . . Though restaurant workers at Yum! Brands chains are not unionized, they have gone on strike . . . seeking higher pay. Meanwhile, Yum!’s stock price has soared almost 70% in the past five years as both revenue and earnings have increased solidly in recent years.”
The money appears to be there for workers. But without union representation, it will remain harder than ever to get the pay that they deserve. Instead, their productivity gains will continue to go into the pockets of executives rather than their own.