Newsom’s Wage Hike: Red Lobster’s Shrimp Deal a Warning for California Fast Food Restaurants that Lower Prices
California’s recent minimum wage hike to $20 per hour, signed into law by Governor Gavin Newsom, has forced fast food chains to rethink their pricing strategies. While many initially feared that higher labor costs would lead to increased prices, a different trend is emerging. To attract customers, some restaurants are introducing new value menus, potentially…