Red Robin is Cutting 570 Jobs. Can You Guess Why?

[dudmuck]

Red Robin is eliminating bussers at 570 of its locations due to states' hikes in the minimum wage.

"Despite what many people, including policymakers, would argue, this is an altogether painfully predictable response to increased labor costs. It’s basic economics. The “first law of demand” teaches us that when the price of a good or service increases, people will tend to buy fewer units. Conversely, when the price of a good or service decreases, people will tend to buy more. This idea is usually presented no later than chapter 3 in any econ 101 textbook.

"Labor is no exception to this rule. If the cost of employing workers increases, we’d expect companies to hire fewer workers and even to let some go ...

"While we may not like the idea of someone trying to live on $5 or even $7 an hour, we can likely all agree that earning a small wage is better than earning nothing at all due to unemployment. It’s easy to vilify restaurants and other companies when they respond to higher costs with layoffs. But it’s important to place the blame where it belongs. In this case, it’s bad policy—not incompetence, not corporate greed—that’s causing people to lose their jobs."

Red Robin is Cutting 570 Jobs. Can You Guess Why?

if you have slaves, that's cost-effective too.... but you can't not pay people a living wage. no doubt it's a nice talking point though.

and THIS is why Red Robin laid people off.... as of 11/17

Shares of Red Robin Gourmet Burgers Inc. (NASDAQ:RRGB) were down 29.6% as of 2 p.m. EST Tuesday after the burger-centric restaurant chain announced disappointing quarterly results.

More specifically, Red Robin's third-quarter revenue climbed a modest 2.3% year over year to $304.2 million. That translated to adjusted net income of $2.7 million, or $0.21 per share, down from just over $5 million, or $0.38 per share in the same year-ago period. Analysts, on average, were expecting significantly higher net income of $0.29 per share on revenue of $309.3 million.

Why Red Robin Gourmet Burgers, Inc. Stock Plummeted Today

Even the employer which squeezes the most out of their workers is laying off:
Wal-Mart has announced thousands of layoffs since publicizing bonuses and benefits expansion

 

[Flash]

Oh please. When I was in HS I worked as a busboy for like a buck an hour + a share of the server's tips. What intellectual capabilities are required to clear a table or punch a cash register with pictures on it?

I worked for 2 dollars an hour painting houses for my uncle...wow things have changed fast...

I worked all summer in Florida roofing back between the Jr and Sr year in High school for 90 cents an hour. That experience had more to do with my decision to go to college than anything.

 

[Soggy in NOLA]

and that's just it. minimum wage was never meant to put people above poverty - more to keep kids from getting screwed. now people just got lazy and they want low skill jobs to pay more so they don't have to go learn something.

I agree completely fast food jobs historically have been for young people...never intended for heads of family...except for the managers position...same for the rear of super markets...the term is stock boy not stock man...LOL

Fast food is open 24/7 . How do you have teens working that schedule ? What you see is a lot of older people or people as 2nd jobs.

More importantly, why should a teenager willing to work get fucked over wage-wise?

Oh please. When I was in HS I worked as a busboy for like a buck an hour + a share of the server's tips. What intellectual capabilities are required to clear a table or punch a cash register with pictures on it?

How poor do you want people to be? How poor is poor enough for you?

Dude, I was in HS. All I needed money for was taking my girlfriend out on weekends; I lived at home. And frankly, any adult who can only get a minimum wage job has made som very poor decisions. BTW, the MacDonald's by my house has a sign offering a starting wage of $11.50.

 

[NYcarbineer]

Red Robin is eliminating bussers at 570 of its locations due to states' hikes in the minimum wage.

"Despite what many people, including policymakers, would argue, this is an altogether painfully predictable response to increased labor costs. It’s basic economics. The “first law of demand” teaches us that when the price of a good or service increases, people will tend to buy fewer units. Conversely, when the price of a good or service decreases, people will tend to buy more. This idea is usually presented no later than chapter 3 in any econ 101 textbook.

"Labor is no exception to this rule. If the cost of employing workers increases, we’d expect companies to hire fewer workers and even to let some go ...

"While we may not like the idea of someone trying to live on $5 or even $7 an hour, we can likely all agree that earning a small wage is better than earning nothing at all due to unemployment. It’s easy to vilify restaurants and other companies when they respond to higher costs with layoffs. But it’s important to place the blame where it belongs. In this case, it’s bad policy—not incompetence, not corporate greed—that’s causing people to lose their jobs."

Red Robin is Cutting 570 Jobs. Can You Guess Why?

570 locations? Isn't that all the locations they have?

 

[jillian]

Red Robin is eliminating bussers at 570 of its locations due to states' hikes in the minimum wage.

"Despite what many people, including policymakers, would argue, this is an altogether painfully predictable response to increased labor costs. It’s basic economics. The “first law of demand” teaches us that when the price of a good or service increases, people will tend to buy fewer units. Conversely, when the price of a good or service decreases, people will tend to buy more. This idea is usually presented no later than chapter 3 in any econ 101 textbook.

"Labor is no exception to this rule. If the cost of employing workers increases, we’d expect companies to hire fewer workers and even to let some go ...

"While we may not like the idea of someone trying to live on $5 or even $7 an hour, we can likely all agree that earning a small wage is better than earning nothing at all due to unemployment. It’s easy to vilify restaurants and other companies when they respond to higher costs with layoffs. But it’s important to place the blame where it belongs. In this case, it’s bad policy—not incompetence, not corporate greed—that’s causing people to lose their jobs."

Red Robin is Cutting 570 Jobs. Can You Guess Why?

if you have slaves, that's cost-effective too.... but you can't not pay people a living wage. no doubt it's a nice talking point though.

and THIS is why Red Robin laid people off.... as of 11/17

Shares of Red Robin Gourmet Burgers Inc. (NASDAQ:RRGB) were down 29.6% as of 2 p.m. EST Tuesday after the burger-centric restaurant chain announced disappointing quarterly results.

More specifically, Red Robin's third-quarter revenue climbed a modest 2.3% year over year to $304.2 million. That translated to adjusted net income of $2.7 million, or $0.21 per share, down from just over $5 million, or $0.38 per share in the same year-ago period. Analysts, on average, were expecting significantly higher net income of $0.29 per share on revenue of $309.3 million.

Why Red Robin Gourmet Burgers, Inc. Stock Plummeted Today

Even the employer which squeezes the most out of their workers is laying off:
Wal-Mart has announced thousands of layoffs since publicizing bonuses and benefits expansion

that's nice.... what was wal-mart's net profit last year?

laying people off has less to do with rising wages than with greed. the Walton family has something like six out of ten of the wealthiest people in the country last time I checked.

wages have been flat for thirty years while corporate profits have skyrocketed.

I have no problem with people getting rich. but let's be real, left to their own devices, these people would pay almost zero to workers.....just like in the sweat shop days.

I'd like to think we're past that.

 

[Mr.Blonde]

My local McDonald's has gone from 12 employees and one manager on staff for mornings down to 6... three cooks and three counter and drive up personnel and one manager... they added two new positions but they are order kiosks...6 hard working college students lost their job due to ridiculous minimum wage hikes... Once again a bunch of idiot do gooders doing great harm to make themselves feel good...hey libs!!!!! stop trying to help people you don't know what the hell you are doing!!!!

and that's just it. minimum wage was never meant to put people above poverty - more to keep kids from getting screwed. now people just got lazy and they want low skill jobs to pay more so they don't have to go learn something.

I agree completely fast food jobs historically have been for young people...never intended for heads of family...except for the managers position...same for the rear of super markets...the term is stock boy not stock man...LOL

Fast food is open 24/7 . How do you have teens working that schedule ? What you see is a lot of older people or people as 2nd jobs.

More importantly, why should a teenager willing to work get fucked over wage-wise?

Because they don't know anything. That is how it works. The more you know the more you get paid. No one is saying they will get paid low forever. Just until they learn something.

If they can do without the bussers, why did those jobs exist in the first place?

If the job costs more than the value it brings then you get rid of it.

 

[NYcarbineer]

I agree completely fast food jobs historically have been for young people...never intended for heads of family...except for the managers position...same for the rear of super markets...the term is stock boy not stock man...LOL

Fast food is open 24/7 . How do you have teens working that schedule ? What you see is a lot of older people or people as 2nd jobs.

More importantly, why should a teenager willing to work get fucked over wage-wise?

Oh please. When I was in HS I worked as a busboy for like a buck an hour + a share of the server's tips. What intellectual capabilities are required to clear a table or punch a cash register with pictures on it?

How poor do you want people to be? How poor is poor enough for you?

Dude, I was in HS. All I needed money for was taking my girlfriend out on weekends; I lived at home. And frankly, any adult who can only get a minimum wage job has made som very poor decisions. BTW, the MacDonald's by my house has a sign offering a starting wage of $11.50.

IOW, a restaurant that knows how to make money can pay ABOVE the minimum wage.

 

[Soggy in NOLA]

Oh please. When I was in HS I worked as a busboy for like a buck an hour + a share of the server's tips. What intellectual capabilities are required to clear a table or punch a cash register with pictures on it?

I worked for 2 dollars an hour painting houses for my uncle...wow things have changed fast...

I worked all summer in Florida roofing back between the Jr and Sr year in High school for 90 cents an hour. That experience had more to do with my decision to go to college than anything.

Mine was driving a truck and working in a hot warehouse.

 

[jillian]

Oh please. When I was in HS I worked as a busboy for like a buck an hour + a share of the server's tips. What intellectual capabilities are required to clear a table or punch a cash register with pictures on it?

I worked for 2 dollars an hour painting houses for my uncle...wow things have changed fast...

I worked all summer in Florida roofing back between the Jr and Sr year in High school for 90 cents an hour. That experience had more to do with my decision to go to college than anything.

then you should know how badly workers are paid for backbreaking work.

and not for nothing, wait staff are paid about $2 and change an hour and have no paid sick leave. so we have to supplement the owner's income by paying his workers with tips and worry about having sick people prepare/serve our food because they can't afford to take off work.

oh... and my first job was as a cashier in Waldbaums while I was in high school.

 

[Rambunctious]

then you should know how badly workers are paid for backbreaking work.

and not for nothing, wait staff are paid about $2 and change an hour and have no paid sick leave. so we have to supplement the owner's income by paying his workers with tips and worry about having sick people prepare/serve our food because they can't afford to take off work.

oh... and my first job was as a cashier in Waldbaums while I was in high school.

Rather than just sit back and except the outdated liberal line involving work and pay why don't you take a few days and go on a fact finding mission? It will show you how far off base you are about the issue...things have changed since the workplace stone age...

 

[Borillar]

Red Robin is eliminating bussers at 570 of its locations due to states' hikes in the minimum wage.

"Despite what many people, including policymakers, would argue, this is an altogether painfully predictable response to increased labor costs. It’s basic economics. The “first law of demand” teaches us that when the price of a good or service increases, people will tend to buy fewer units. Conversely, when the price of a good or service decreases, people will tend to buy more. This idea is usually presented no later than chapter 3 in any econ 101 textbook.

"Labor is no exception to this rule. If the cost of employing workers increases, we’d expect companies to hire fewer workers and even to let some go ...

"While we may not like the idea of someone trying to live on $5 or even $7 an hour, we can likely all agree that earning a small wage is better than earning nothing at all due to unemployment. It’s easy to vilify restaurants and other companies when they respond to higher costs with layoffs. But it’s important to place the blame where it belongs. In this case, it’s bad policy—not incompetence, not corporate greed—that’s causing people to lose their jobs."

Red Robin is Cutting 570 Jobs. Can You Guess Why?

Wonder why you never hear of executives getting pay cuts to bring expenses down. Always the little guy getting fucked.

That is the nature of capitalism


Sent from my iPhone using USMessageBoard.com

Who is easier to replace a good CEO or a low to no skilled workers?

My local McDonald's has gone from 12 employees and one manager on staff for mornings down to 6... three cooks and three counter and drive up personnel and one manager... they added two new positions but they are order kiosks...6 hard working college students lost their job due to ridiculous minimum wage hikes... Once again a bunch of idiot do gooders doing great harm to make themselves feel good...hey libs!!!!! stop trying to help people you don't know what the hell you are doing!!!!

and that's just it. minimum wage was never meant to put people above poverty - more to keep kids from getting screwed. now people just got lazy and they want low skill jobs to pay more so they don't have to go learn something.

I agree completely fast food jobs historically have been for young people...never intended for heads of family...except for the managers position...same for the rear of super markets...the term is stock boy not stock man...LOL

Fast food is open 24/7 . How do you have teens working that schedule ? What you see is a lot of older people or people as 2nd jobs.

Right. Not a full time main job.

Bet you could get lots of people willing to do the job for half a million bucks and get rid of the guy making multi-millions.

 

[AntonToo]

Crap!

If Red Robin closes up where am I going to be able to buy a burger?

 

[Rambunctious]

Bet you could get lots of people willing to do the job for half a million bucks and get rid of the guy making multi-millions.

The liberals just don't get it...no matter what is told to them they just refuse to get it...

 

[AntonToo]

I'm getting kinda hungry

 

[Mr.Blonde]

Red Robin is eliminating bussers at 570 of its locations due to states' hikes in the minimum wage.

"Despite what many people, including policymakers, would argue, this is an altogether painfully predictable response to increased labor costs. It’s basic economics. The “first law of demand” teaches us that when the price of a good or service increases, people will tend to buy fewer units. Conversely, when the price of a good or service decreases, people will tend to buy more. This idea is usually presented no later than chapter 3 in any econ 101 textbook.

"Labor is no exception to this rule. If the cost of employing workers increases, we’d expect companies to hire fewer workers and even to let some go ...

"While we may not like the idea of someone trying to live on $5 or even $7 an hour, we can likely all agree that earning a small wage is better than earning nothing at all due to unemployment. It’s easy to vilify restaurants and other companies when they respond to higher costs with layoffs. But it’s important to place the blame where it belongs. In this case, it’s bad policy—not incompetence, not corporate greed—that’s causing people to lose their jobs."

Red Robin is Cutting 570 Jobs. Can You Guess Why?

Wonder why you never hear of executives getting pay cuts to bring expenses down. Always the little guy getting fucked.

That is the nature of capitalism


Sent from my iPhone using USMessageBoard.com

Who is easier to replace a good CEO or a low to no skilled workers?

My local McDonald's has gone from 12 employees and one manager on staff for mornings down to 6... three cooks and three counter and drive up personnel and one manager... they added two new positions but they are order kiosks...6 hard working college students lost their job due to ridiculous minimum wage hikes... Once again a bunch of idiot do gooders doing great harm to make themselves feel good...hey libs!!!!! stop trying to help people you don't know what the hell you are doing!!!!

and that's just it. minimum wage was never meant to put people above poverty - more to keep kids from getting screwed. now people just got lazy and they want low skill jobs to pay more so they don't have to go learn something.

I agree completely fast food jobs historically have been for young people...never intended for heads of family...except for the managers position...same for the rear of super markets...the term is stock boy not stock man...LOL

Fast food is open 24/7 . How do you have teens working that schedule ? What you see is a lot of older people or people as 2nd jobs.

Right. Not a full time main job.

Bet you could get lots of people willing to do the job for half a million bucks and get rid of the guy making multi-millions.

And I bet you they won't do nearly as well.

 

[mikegriffith1]

This same thing has happened over and over again when the minimum wage has been raised. It happened at the car wash where I worked as a teen: The car wash had to lay off about 1/4 of the workforce because they simply could not afford to pay the new wage to that many workers. I knew the managers well. They hated having to cut workers (luckily, I was deemed good enough to remain).

Even Warren Buffet has come around to the idea that the best way to help low-income folks is through the Earned Income Tax Credit, not by hiking the minimum wage. But liberals just won't listen.

 

[iceberg]

My local McDonald's has gone from 12 employees and one manager on staff for mornings down to 6... three cooks and three counter and drive up personnel and one manager... they added two new positions but they are order kiosks...6 hard working college students lost their job due to ridiculous minimum wage hikes... Once again a bunch of idiot do gooders doing great harm to make themselves feel good...hey libs!!!!! stop trying to help people you don't know what the hell you are doing!!!!

and that's just it. minimum wage was never meant to put people above poverty - more to keep kids from getting screwed. now people just got lazy and they want low skill jobs to pay more so they don't have to go learn something.

The minimum wage adjusted for inflation has been falling for about 50 years.

don't care.

MINIMUM was never meant to be enough to feed a family on.

Which is why now, it's your taxes that make up the difference in the form of government assistance.

then they can take their slackin ass of government living also.

 

[iceberg]

and that's just it. minimum wage was never meant to put people above poverty - more to keep kids from getting screwed. now people just got lazy and they want low skill jobs to pay more so they don't have to go learn something.

I agree completely fast food jobs historically have been for young people...never intended for heads of family...except for the managers position...same for the rear of super markets...the term is stock boy not stock man...LOL

Fast food is open 24/7 . How do you have teens working that schedule ? What you see is a lot of older people or people as 2nd jobs.

More importantly, why should a teenager willing to work get fucked over wage-wise?

Oh please. When I was in HS I worked as a busboy for like a buck an hour + a share of the server's tips. What intellectual capabilities are required to clear a table or punch a cash register with pictures on it?

How poor do you want people to be? How poor is poor enough for you?

got nothing to do with me or anyone OTHER than who's making the money. so you should be asking "how poor does that person want to be". if they don't want to be poor anymore, educate yourself and get a better job because you have more marketable skills. giving people more for doing less never ends well.

 

[iceberg]

Red Robin is eliminating bussers at 570 of its locations due to states' hikes in the minimum wage.

"Despite what many people, including policymakers, would argue, this is an altogether painfully predictable response to increased labor costs. It’s basic economics. The “first law of demand” teaches us that when the price of a good or service increases, people will tend to buy fewer units. Conversely, when the price of a good or service decreases, people will tend to buy more. This idea is usually presented no later than chapter 3 in any econ 101 textbook.

"Labor is no exception to this rule. If the cost of employing workers increases, we’d expect companies to hire fewer workers and even to let some go ...

"While we may not like the idea of someone trying to live on $5 or even $7 an hour, we can likely all agree that earning a small wage is better than earning nothing at all due to unemployment. It’s easy to vilify restaurants and other companies when they respond to higher costs with layoffs. But it’s important to place the blame where it belongs. In this case, it’s bad policy—not incompetence, not corporate greed—that’s causing people to lose their jobs."

Red Robin is Cutting 570 Jobs. Can You Guess Why?

Wonder why you never hear of executives getting pay cuts to bring expenses down. Always the little guy getting fucked.

That is the nature of capitalism


Sent from my iPhone using USMessageBoard.com

Who is easier to replace a good CEO or a low to no skilled workers?

My local McDonald's has gone from 12 employees and one manager on staff for mornings down to 6... three cooks and three counter and drive up personnel and one manager... they added two new positions but they are order kiosks...6 hard working college students lost their job due to ridiculous minimum wage hikes... Once again a bunch of idiot do gooders doing great harm to make themselves feel good...hey libs!!!!! stop trying to help people you don't know what the hell you are doing!!!!

and that's just it. minimum wage was never meant to put people above poverty - more to keep kids from getting screwed. now people just got lazy and they want low skill jobs to pay more so they don't have to go learn something.

I agree completely fast food jobs historically have been for young people...never intended for heads of family...except for the managers position...same for the rear of super markets...the term is stock boy not stock man...LOL

Fast food is open 24/7 . How do you have teens working that schedule ? What you see is a lot of older people or people as 2nd jobs.

Right. Not a full time main job.

Bet you could get lots of people willing to do the job for half a million bucks and get rid of the guy making multi-millions.

bet you most of those would bankrupt the company along the way also.

 

[jillian]

Bet you could get lots of people willing to do the job for half a million bucks and get rid of the guy making multi-millions.

The liberals just don't get it...no matter what is told to them they just refuse to get it...

well, if you or anyone like you is saying it, it's probably ill thought out or false.