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Chipotle to hire 19,000 employees to prepare for busy 'burrito season'

By Tomi Kilgore

Fast-casual restaurant's new benefits cater to predominantly Gen Z workforce

Chipotle Mexican Grill Inc. announced Wednesday plans to hire 19,000 additional employees ahead of what it dubs "burrito season."

The seasonal hires, which would be 27% more than the 15,000 hired last year, are in preparation for its busiest time of the year, from March to May.

The fast-casual restaurant (CMG) also announced new benefits that will help eligible employees pay off student debt while saving for retirement, have access to premium banking services, have access mental health resources and manage financial wellness.

The company said the new benefits cater to challenges facing its Gen Z employees, who make up more than 73% of its workforce.

"It has been widely cited that those born in the late-90s through the early 2000s are experiencing notable financial challenges, including racking up credit card debt faster than previous generations and being nearly twice as likely as the general population to not feel confident managing their money," the company said in a statement.

Chipotle's stock ticked up 0.1% in very light premarket trading. It has soared 25.2% over the past three months through Tuesday, while the S&P 500 index has gained 14.5%.

-Tomi Kilgore

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01-24-24 0837ET

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