A hiring sign hangs in the window of a Chipotle in New York, Tuesday, Nov. 1, 2022. (AP Photo/Seth Wenig)
Heads up, tech workers. Chipotle is looking for fresh talent.
The fast casual chain is planning to hire 15,000 employees ahead of "burrito season." The period runs from March to May, culminating in Cinco de Mayo, and is the company's busiest time of year. The hiring spree coincides with a massive expansion in North America.
"Our restaurant teams are the core of this organization and with a goal of more than doubling our footprint to 7,000 locations in North America, we are targeting employees today to serve as our leaders of tomorrow," said Scott Boatwright, chief restaurant officer, in a press release. "We will continue bringing in new crew to support Chipotle's aggressive growth plans, while simultaneously promoting and upskilling those currently in role."
The recruitment campaign coincides with existing television spots featuring behind-the-scenes footage of working at the restaurant.
"Our goal is to develop and retain diverse talent at every level of the organization and be the employer of choice," Boatwright said.
The average hourly wage for Chipotle crew members in New York City is $17.10, according to Indeed. In San Francisco, a tech hub, the average rate is $16.19 per hour.
Amid 2021's tight labor market, the company announced plans to gradually raise its starting wage to $15 per hour. Since then, U.S. inflation has caused real average hourly earnings to fall 1.7 across industries.
In its press release, Chipotle touted opportunities for new employees to advance their careers, noting that 90 percent of all restaurant management roles were internal promotions.
President Donald Trump said he has decided to lower his combined tariff rates on imports of Chinese goods to 47% after talks with Chinese leader Xi Jinping on curbing fentanyl trafficking.
Universal Music Group and AI platform Udio have settled a copyright lawsuit and will collaborate on a new music creation and streaming platform. The companies announced on Wednesday that they reached a compensatory legal settlement and new licensing agreements. These agreements aim to provide more revenue opportunities for Universal's artists and songwriters. The rise of AI song generation tools like Udio has disrupted the music streaming industry, leading to accusations from record labels. This deal marks the first since Universal and others sued Udio and Suno last year. Financial terms of the settlement weren't disclosed.
Nvidia on Wednesday became the first public company to reach a market capitalization of $5 trillion. The ravenous appetite for the Silicon Valley company’s chips is the main reason that the company’s stock price has increased so rapidly since early 2023.
Chris Williamson, Chief Business Economist at S&P Global, breaks down September’s CPI print and inflation trends, explaining what it means for markets.