Pizza Hut franchises in California lay off all delivery drivers ahead of $20 minimum wage increase

return2ozma@lemmy.world to News@lemmy.world – 669 points –
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https://investors.yum.com/news-events/financial-releases/news-details/2023/Yum-Brands-Reports-Fourth-Quarter-Results-and-Increases-Dividend/default.aspx

We repurchased 10 million shares totaling $1.2 billion at an average price per share of $119.

They are just greedy. They have the money, but giving the money to the rich is evidently more important.

https://cwa-union.org/stock-buybacks-hurt-workers

They aren't the same people.

Franchise owners are doing this, not the centralized brand they are franchising from.

The franchise owners are still extracting wealth from the restaurant owners. That 1.2 billion came from somewhere, it didn't just poof into existence. That's 1.2 billion that should have gone to the workers instead of the rich shareholders who own the company. As a whole, as an entire organization they are greedy fucks and it shows.

That's irrelevant.