The founder and CEO of Subway says a minimum wage increase wouldn’t be such a bad thing for his stores and workers and believes it should be changed so that wages rise automatically with inflation.
“I’m not concerned,” CEO Fred DeLuca said on Wednesday when CNBC asked him about minimum wage hikes. “Over the years, I’ve seen so many of these wage increases. I think it’s normal. It won’t have a negative impact hopefully, and that’s what I tell my workers.”
DeLuca’s support is noteworthy in part because of the size of his business. Subway has the most locations of any fast food chain. While a majority of small business owners support a $10.10 wage hike, major corporations of that scale typically oppose raising wages.
Sure, he's not saying this about Seattle's $15 minimum wage proposal. He's talking about President Obama's nationwide $10.10 minimum wage proposal. Still, the Subway CEO's thinking matches the local thinking: "Minimum-wage workers deserve to make more," he told CNBC.