Tighter economic conditions are giving waitstaff a double whammy. Not only are food and gas prices rising rapidly, many who work in restaurants are earning less than they used to.
As consumers become more thrifty and eat out less, this hits waitstaff right in the pocketbooks. And when diners do show up, they're often likely to order less (decreasing their bill and therefore the tip if they do a percentage) and some even tip a lower percentage than usual.
Check out this video for some insights on just how much this can hurt restaurant employees:
Tracy L. Coenen, CPA, MBA, CFE performs fraud examinations and financial investigations for her company Sequence Inc. Forensic Accounting, and is the author of Essentials of Corporate Fraud.
Tough times if you wait tables