High inflation and the money-making opportunities it’s created have driven workers back to the restaurant industry, Danny Meyer told CNBC’s Jim Cramer on Tuesday.
“There’s no question that menu prices are higher than they’ve ever been. But guess what that translates to – if you do have a tipping model in your restaurants, servers are making more money than they’ve ever made before,” the restaurateur said in an interview on “Mad Money.”
The Union Square Hospitality Group founder added that the company’s restaurants give a cut of their revenue to cooks since they are in non-tip eligible positions.
The opportunity to make more money now than during low-inflationary times has driven workers back to restaurants, according to Meyers.
“For the first time, we’re actually on equal footing in terms of our talent count, as we were in 2020 when we first had to stop doing business,” he…