Chipotle Mexican Grill Inc. (CMG, -0.14%) has revealed plans to hire an additional 19,000 employees in preparation for its upcoming “burrito season.” This hiring spree represents a significant increase of 27% compared to the 15,000 employees hired last year. With the busiest period running from March to May, the fast-casual restaurant is determined to meet the high demand.
To further support their workforce, Chipotle is introducing a range of new benefits. Eligible employees will now have the opportunity to pay off their student debt while simultaneously saving for retirement. Additionally, they will gain access to premium banking services and resources for managing mental health and financial wellness.
Considering that over 73% of Chipotle’s workforce belongs to Generation Z (Gen Z) – individuals born between the late-1990s and early-2000s – these new benefits are tailored to address their specific needs. The company acknowledges the importance of catering to the younger generation and is committed to ensuring their overall well-being.
Despite the challenges faced by the restaurant industry, Chipotle’s stock shows remarkable performance. Indications suggest a 1% increase in premarket trading, and over the past three months, the stock has surged by an impressive 25.2%. This success stands in contrast to the 14.5% gain observed in the S&P 500 (SPX, +0.29%) index during the same period.
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