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50 sats \ 1 reply \ @TNStacker OP 8 Oct \ parent \ on: UC Berkeley Economists’ Study: Food Prices Steady After California’s $20/hr wage econ
🤣 Article says no job loses, too. Kind of hard to believe business owners absorbed the increase, though.
More likely they would reduce hours rather than fire people. You still need people to run your business. We didn't fire anyone but we did start reducing hours and as people left for other jobs we would replace them with people who would get a few hours less per week.
If I had someone working p/t 24 hours a week and they left for another job. I might give the new hire 20 hours. That's the job now, get it done. You are making more you should produce more. Didn't always work out well but customers also had to understand if they weren't will to absorb a price increase then we needed to reduce our labour costs, it couldn't all come out of profit.
It was a very challenging time for a couple years. Spent way too much time hiring and training people and fighting fires rather than growing the business.
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