CBS News: NYC restaurants cutting staff hours as minimum wage hits $15

By Megan Cerullo
CBS News MoneyWatch, Jan 16, 2019

The legal minimum wage for New York City employers with 11 or more workers rose more than 15 percent on Dec. 31, 2018, to $15 per hour from $13, giving fast-food, retail and other employees a bump in pay. ...

Marc Sherry, co-owner of the 1860s-era Old Homestead Steakhouse in Manhattan, said he never considered reducing his staff in response to the wage hike. "The increase in the minimum wage is in effect, but it was never in our business plan to lay off staff because if we lay off staff, we aren't able to maintain the quality and experience we have brought for the last 150 years," he said.

This way he avoids turnover, which can be costly to a business. "Employee retention helps customer retention," said Holly Sklar, founder and director of Business for a Fair Minimum Wage. 

And workers are customers too ...

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