Subway is a major fast food chain with more than 41,000 restaurants in 106 countries. CNBC calls it the “largest restaurant chain in the world.” Despite its large size, the company isn’t afraid of an increase in the federal minimum wage. Subway CEO Fred DeLuca recently said during an interview with CNBC that he is “not concerned” about the federal minimum wage increasing.
When he “started in the business, the minimum wage was $1.25,” and he has “seen an enormous number of wage increases,” DeLuca told CNBC. He added that increasing the federal minimum wage “won’t have a negative impact hopefully, and that’s what I tell my workers.” That is a bit of a change from 2013 when Deluca told CNBC that “doing a sharp raise all at once is a bad idea.” However, he added that “minimum-wage workers deserve to make more and a little bit of an increase makes sense to me.”