An executive who celebrated the idea that higher gas prices will make potential employees more desperate for work is himself now out of a job.
In an email posted on Reddit last week, the executive at a franchise operator of Applebee's restaurants wrote that “the labor market is about to turn in our favor,” thanks to higher inflation and in particular higher gas prices.
“Most of our employee base and potential employee base live paycheck to paycheck,” the executive, identified as Wayne Pankratz, wrote.
“Any increase in gas prices cuts into their disposable income. As inflation continues to climb and gas prices continue to go up, that means more hours employees will need to work to maintain their current level of living,” he said in the email.
A Hornet's Nest of Commentary
The incendiary comments stirred up a firestorm of criticism on Twitter, with many calling for a boycott of Applebee's.
However, the executive has since been terminated by the franchisee that he worked for, according to a statement issued by Applebee’s corporate offices.
"This is the opinion of an individual, not Applebee’s. The individual has been terminated by the franchisee who owns and operates the restaurants in this market," said Kevin Carroll, chief operations officer at Applebee’s, in a statement.
Applebee's is owned by Dine Brands International (DIN), which also controls the iHop pancake house brand. The majority of Applebee's restaurants are operated by franchisees.
"Our team members are the lifeblood of our restaurants, and our franchisees are always looking to reward and incentivize team members, new and current, to remain within the Applebee’s family,” Carroll said in the statement.
Shares of Dine traded off 97 cents, or 1.3%, at $74.06 Monday.
