An Applebee’s franchise executive had a bright idea on dealing with inflation … pay employees less.
Wayne Pankratz — a bigwig at American Franchise Capital, which owns and operates 50 Applebee’s locations throughout the Midwest — spewed his corporate fat cat vision to his colleagues over an email, which leaked and has since gone viral.
In the memo, Pankratz muses that the higher gas prices being felt across the country could actually benefit their Applebee’s business — namely, by forcing more people into the workforce out of desperation, which he thought would be great to exploit in lower wages for new hires.
Yep, it’s as bad as it sounds … take a look for yourself — he says as much clear as day here.
There’s more … the guy goes on to describe much of their employees as “paycheck to paycheck” people — and that too, he says, can help them in putting a little extra squeeze on their hourly rate. Since their disposable income would be depleted amid these higher prices, he theorized their Applebee’s restaurants would likely see an increase in applicants, who would be more likely to take less money than other hospitality jobs that might pay better.
Pankratz also gives the federal government a shout-out for finally putting an end to all the stimulus checks, which he believes has also forced people back to working for a living … and which he also sees as a pro for his would-be plan.
Chad – Thank you for writing that up. Regarding the comment from Apple Central that the lower wage idea hasn’t been discussed by “top management”, that seems to fly in the face of the fact that Wayne Pankratz IS top management, at least according to his LinkedIn profile. pic.twitter.com/yJH0fizdSw
It’s a bizarre economic philosophy, and it has NOT been well-received online … frankly, people are tearing into this dude and Applebee’s by extension. Both his investment firm and Applebee’s corporate office have distanced themselves from him. Pankratz has reportedly been placed on leave, and each org has said his thoughts don’t represent their values.
Still, #BoycottApplebees is trending right now — so they’re in the middle of a controversy that might last a while. Some won’t be eatin’ good in the neighborhood after this.