Minimum Wage Adds $50 Million in New Costs to Grocers

The CEO of Metro a large grocery chain has recently stated the results of Ontario's new $15 an hour minimum wage on their bottom line. A 50 million dollar increase in yearly expenses.  


0

The CEO of Metro a large grocery chain has recently stated the results of Ontario’s new $15 an hour minimum wage on their bottom line. A 50 million dollar increase in yearly expenses.

In revealing its quarterly results, the chain said it would be exerting ” strong control” over its expenses in the coming year, citing wage increases as a major factor in its outlook.

“The announced minimum wage increase in Ontario will put significant pressure on our industry in 2018,” Eric R. La Fleche said

The comments continue a trend among retailers over the fears of new costs putting many out of business.

Metro rival Loblaw said last month that it expects rising wage pressures will cost it $190 million next year.

 


0 Comments

Your email address will not be published. Required fields are marked *

Ali Taghva

Business owner, former riding President, and Bachelors in Industrial Relations from Mcgill. Interested in the intersection of politics and culture. I firmly believe in a free media and work to push new stories to your door each day.