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Rising wages hit Wetherspoon profits

Rising wages hit Wetherspoon profits

JD Wetherspoon (JDW) has bowed to pressure from workers’ industrial action and agreed to a pay increase for its staff. Each employee will receive an extra 50-60p per hour from this week, with management blaming record low unemployment for putting upward pressure on wages. But chairman Tim Martin said that the pub group won’t look to recoup any of the added wage costs through price increases or any other means of mitigation right away, although will consider it later in the year. This means that profits are now expected to be below last year’s figures.

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