Dining Out Faces Hiring Slowdown Amid Market Pressures
U S restaurants led a years long hiring boom but the pace is easing. McDonald’s and Subway have cut new store openings and some locations, while supermarkets push prepared foods and meal kits boost at home dining. Wendy’s and McDonald’s push digital ordering kiosks as labor costs rise. Industry headwinds include competition, overbuilding and automation. Since mid-2009 restaurants added 2.3 million jobs, about 15 percent of private-sector gains, but 2016 hiring is weakest since 2010. Moody’s analyst says the best times for restaurant employment have passed, with only modest gains ahead.
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Ryan Sweet
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Changing Landscape of U.S. Dining Growth Slows Amid Saturation
The restaurant sector sees a shift as consumers spend more on dining out, with 2015 marking higher restaurant spending than groceries. NPD projects muted fast food visits next two years, price hikes driving sales, while chains face heavy competition and rising labor costs. TDn2K cites limited pie growth and potential consolidation as staffing and pricing pressures mount.
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GM to Buy Strobe LIDAR in Push for Driverless Cars
General Motors said it will acquire Strobe Inc to boost its self driving car program. The deal aims to enhance object detection cost and capabilities as automakers race to market. GM did not disclose the price.
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