Party City CEO: Skilled Labor Costing 15-20% More

The transcript discusses the hiring of 35,000 temporary employees for the holiday season, highlighting the availability of labor across the country. It addresses challenges in hiring skilled labor and the impact of wage increases. The role of automation in reducing labor needs is examined, with examples from the US and China. Retail market trends and their impact on hiring are analyzed, and the potential effects of political changes on business expansion into Mexico are considered.

What is the primary reason for hiring 35,000 temporary employees?

• To reduce labor costs

• To expand the business into new markets

• To manage increased demand during the holiday season

• To replace permanent employees

How has automation affected the labor market in China according to the transcript?

• Increased the cost of labor

• Had no impact on employment

• Increased the number of employees

• Decreased the number of employees needed

What strategy is being used to handle increased labor costs for skilled positions?

• Hiring more temporary workers

• Improving operational efficiencies and adding automation

• Increasing product prices

• Reducing employee benefits

What is the company's approach to expanding its market in Mexico?

• Reducing product variety

• Opening new stores in Mexico

• Moving all production to Mexico

• Closing stores in the US

What is the anticipated impact of the US elections on the company's operations in Mexico?

• Significant impact if trade is shut down

• No impact regardless of the election outcome

• Negative impact due to increased tariffs

• Positive impact due to increased trade