Burger King Lays Off 261 Local Workers Right Before the Holidays
The move comes after significant layoffs amongst top execs in October shortly after 3G partners took over.
"We are sorry to learn about the layoffs," says Beacon Council president Frank R. Nero in a statement. "Our focus is on those individuals affected. If there is any positive news in this, it is that Burger King has offered these employees a six-months salary and benefits package, and we hope they will be able to find jobs quickly in our community."
The Herald reports that layoffs are pretty typical for a private equity firm that just bought itself a new prize.
"Typically, the new owners impose severe cost cuts in an effort to boost profits, then sell the company for a windfall," writes Douglas Hanks.
Burger King is stuck in second place in an all-out burger war with McDonald's. In related news, has anyone tried Wendy's new fries? Pretty damn good, right?