The Krispy Kreme logo appears above its trading post on the floor of the New York Stock Exchange, Monday, May 9, 2016. Krispy Kreme will pay nearly $1.2 million in back wages and damages to workers to resolve overtime pay violations under a settlement announced Thursday, Nov. 17, 2022, by the U.S. Department of Labor. (AP Photo/Richard Drew, File)Krispy Kreme will pay nearly $1.2 million in back wages and damages to workers to resolve overtime pay violations under a settlement announced Thursday by the U.S. Department of Labor.
The payments will go to 516 workers in multiple locations for what the labor department described as “widespread and systematic” violations.
According to a filing in U.S. District Court, Krispy Kreme hasn’t calculated overtime correctly for its assistant district managers for the last three years. The Department of Labor says Krispy Kreme was supposed to include workers’ bonuses when determining their pay rate but stopped doing that around November 2019.
In a statement, Krispy Kreme said it didn’t agree with the labor department’s findings but agreed to settle the case with no admission of wrongdoing.
The labor department’s Wage and Hour Division opened an investigation at a Krispy Kreme in Louisville, Kentucky, but said it soon expanded its probe to all Krispy Kreme’s 242 U.S. locations.
Charlotte, North Carolina-based Krispy Kreme has around 9,200 employees in the U.S.
Before you make your next trade, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis.
Our team has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and none of the big name stocks were on the list.
They believe these five stocks are the five best companies for investors to buy now...
See The Five Stocks Here
MarketBeat has just released its list of 20 stocks that Wall Street analysts hate. These companies may appear to have good fundamentals, but top analysts smell something seriously rotten. Are any of these companies lurking around your portfolio? Find out by clicking the link below.
Get This Free Report
