They’re talking about raising prices 5-10% in order to offset the increased labor costs. The problem is that many of these companies have already been raising prices over the past four years in order to offset inflation in supply chain costs and increased demand, and have in addition seen increases in their bottom lines:
McDonald's gross profit for the twelve months ending September 30, 2023 was $14.317B, a 9.63% increase year-over-year. McDonald's annual gross profit for 2022 was $13.207B, a 4.98% increase from 2021. McDonald's annual gross profit for 2021 was $12.58B, a 29% increase from 2020.
So this isn’t being done because they’re barely scraping by as it is. This is seeing what else they can get away with.