If they can find a way to replace workers with machines, my guess is they will. My local walmart has one worker managing about ten self-checkout stations now. Panera Bread has stations where you order your food; no cashier needed. And the wage they are paying here is well above minimum wage, anyway.
CEOs will eliminate all the employees they can, because they consider that their job. And then they'll give out executive bonuses as massive as they can get away with.
There is no reason why the minimum wage should be so low that no one could make a living off it.