Friday, June 23, 2017 12:45:27 PM
This is what minimum wage does for you...
The Democrats are getting what they asked for... and the result is more without a job.
McDonalds Is Replacing 2,500 Human Cashiers With Digital Kiosks: Here Is Its Math
The stock market is luvin' McDonalds stock, which has continued its recent relentless rise to all time highs, up 26% YTD, oblivious to the carnage among the broader restaurant and fast-food sector. There is a reason for Wall Street's euphoria: the same one we discussed in January in "Dear Bernie, Meet the "Big Mac ATM" That Will Replace All Of Your $15 Per Hour Fast Food Workers."
In a report released this week by Cowen's Andrew Charles, the analyst calculates the jump in sales as a result of the company's new Experience of the Future strategy which anticipates that digital ordering kiosks (shown above) will replace cashiers in at least 2,500 restaurants by the end of 2017 and another 3,000 over 2018. Cowen also cited plans for the restaurant chain to roll out mobile ordering across 14,000 U.S. locations by the end of 2017 (we did not show that particular math, but the logic was similarly compelling).
Here is a snapshot of the math that Cowen, likely in conjunction with management, used to come up with the cost-savings as McDonalds increasingly lays off more and more minimum wage workers and replaces them with "Big Mac ATMs"
More at the link:
http://www.zerohedge.com/news/2017-06-23/mcdonalds-replacing-2500-human-cashiers-digital-kiosks-here-its-math
The Democrats are getting what they asked for... and the result is more without a job.
McDonalds Is Replacing 2,500 Human Cashiers With Digital Kiosks: Here Is Its Math
The stock market is luvin' McDonalds stock, which has continued its recent relentless rise to all time highs, up 26% YTD, oblivious to the carnage among the broader restaurant and fast-food sector. There is a reason for Wall Street's euphoria: the same one we discussed in January in "Dear Bernie, Meet the "Big Mac ATM" That Will Replace All Of Your $15 Per Hour Fast Food Workers."
In a report released this week by Cowen's Andrew Charles, the analyst calculates the jump in sales as a result of the company's new Experience of the Future strategy which anticipates that digital ordering kiosks (shown above) will replace cashiers in at least 2,500 restaurants by the end of 2017 and another 3,000 over 2018. Cowen also cited plans for the restaurant chain to roll out mobile ordering across 14,000 U.S. locations by the end of 2017 (we did not show that particular math, but the logic was similarly compelling).
Here is a snapshot of the math that Cowen, likely in conjunction with management, used to come up with the cost-savings as McDonalds increasingly lays off more and more minimum wage workers and replaces them with "Big Mac ATMs"
More at the link:
http://www.zerohedge.com/news/2017-06-23/mcdonalds-replacing-2500-human-cashiers-digital-kiosks-here-its-math
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