The company who we all know has struggled in the past few months with the E.Coli outbreak and the lawsuit which accused them of mistreating their hired help, plans to go on a hiring spree on September 28th offering nearly 5,000 jobs across the country.
A presenter from the chain says Chipotle needs the staff as it opens more than 200 of its Mexican-style restaurants this year. Chipotle is calling it National Career Day For Chipotle. The first time they did this was a year ago, when the chain hired more than 4,000 workers across the country. More than 65,000 registered for interviews last year.
This year, Chipotle plans to interview up to 100 candidates at each of its roughly 2,000 U.S. restaurants. Candidates can go online and apply. Chipotle (CMG) currently employs about 60,000 people nationwide. It naturally hires for entry-level jobs making burritos and promotes almost all its managers from their current staff.
The company reported its first quarterly loss in April and has been overwhelmed by other bad news. Thousands of current and former employees are suing Chipotle, accusing it of making them work without pay after they were off the clock. The company denies crime. In 2015, hundreds of patrons across the country were sickened with E. coli, norovirus and salmonella after eating at Chipotle restaurants. The Centers for Disease Control and Prevention stated the outbreak over in January, but federal authorities have opened a criminal investigation over it.
Back in July, a top Chipotle executive was charged with seven counts of cocaine possession. The stock has shot down over 42% the last year. But there are people who still believe in Chipotle, like Bill Ackman of the hedge fund Pershing Square (PSHZF), who just bought a 9.9% stake. In a public filing, Pershing called the company "underestimated" and "a very attractive investment."