📈Fast food workers in California will now earn $20 an hour, a significant increase from the previous minimum wage.
💰The higher wages may lead to higher labor costs for businesses, possibly resulting in price increases or job cuts.
🍔Major fast food chains like McDonald's and Chipotle are already planning to raise prices to compensate for the higher wages.
🛵Some pizza hut locations are laying off delivery drivers due to the increased labor costs.
🏢The new minimum wage only applies to chains with 60 or more restaurants, while small businesses are not impacted.