#395 - QFC to Close Two Seattle Stores, Blames City’s New $4 Hazard Pay Law
News For Reasonable People
English - February 24, 2021 11:00 - 17 minutes - 12.4 MB - ★★★★★ - 7 ratingsInvesting Business Entrepreneurship san francisco trending news protests defund the police antifa blm seattle conservative republican journalism Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
The heated debate over Seattle’s $4-an-hour hazard pay law for grocery workers escalated sharply this week.
On Tuesday, QFC announced it would close two Seattle locations by April 24 — and blamed the move, in part, on the new law.
Although QFC acknowledged that both locations — at 416 15th Avenue East on Capitol Hill and at 8400 35th Ave. NE in Wedgwood — were “underperforming,” the decision to close them was “accelerated” by Seattle’s hazard pay law, which the City Council approved Jan. 25.
That law imposed new costs at a time when grocery stores “operate on razor-thin profit margins in a very competitive landscape,” the company said in a statement Tuesday. The law applies to grocery companies with more than 500 employees worldwide and to stores larger than 10,000 square feet during the coronavirus civil emergency.
Join your host Sean Reynolds, owner of Summit Properties NW and Reynolds & Kline Appraisal as he takes a look at this developing topic.
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