Chipotle Mexican Grill Inc. said Thursday that it was launching a new hiring campaign, as it looks to add 15,000 new employees in preparation for “burrito season.”
The fast-casual Mexican food chain’s CMG, +1.54% hiring plans contrast with a growing number of companies in a growing number of industries that have announced layoffs amid an increasingly uncertain economic outlook.
The targeted new hires, which would represent a 15% increase to its workforce as of the latest annual report, is to ensure the company is fully staffed ahead of its busiest time of year, the March-to-May period that is referred to as “burrito season.”
Chipotle said its new hiring campaign would highlight the career progression of its employees, as the company promoted 22,000 employees in 2022, and as 90% of restaurant managers were internal promotions.
“Our restaurant teams are the core of this organization and with a goal of more than doubling our footprint to 7,000 locations in North America, we are targeting employees today to serve as our leaders of tomorrow,” said Chief Restaurant Officer Scott Boatwright. “Our goal is to develop and retain diverse talent at every level of the organization and be the employer of choice,” he added.
The company had 3,090 restaurants as of Sept. 30.
Chipotle’s stock rallied 1.3% in morning trading Thursday. It has run up 16.6% over the past 12 months, while the Consumer Discretionary Select Sector SPDR exchange-traded fund XLY, +0.99% has tumbled 19.4% and the S&P 500 index SPX, +0.06% has shed 7.2%.