Chipotle separately just raised menu prices by 3%.
Minimum wages for fast-food workers in the state will increase to $20 an hour in April 2024 under a new law signed by Governor Gavin Newsom.
California's current minimum wage is $15.50 and it's set to rise to $16 in January – more than double the federal minimum wage of $7.25.
Chipotle execs said during the company's earnings call on Thursday that it had recently raised menu prices by 3%.
Chief Financial and Administrative Officer Jack Hartung told investors that this month's hike "does not consider any part of the California wages that'll happen next year."
Persons:
Chipotle, hasn't, —, Gavin Newsom, Chipotle execs, Jack Hartung, Hartung, Erin Wolford, Newsom
Organizations:
Service, Consumer
Locations:
California, Chipotle