Wendy’s said it’s planning a restructuring — and possible corporate layoffs — in an effort to speed decision-making and invest more in new restaurant development.
FILE - A sign stands over a Wendy's restaurant on Feb. 25, 2021, in Des Moines, Iowa. Wendys said Friday, Jan. 13, 2023, that it is planning a restructuring, including possible corporate layoffs, in an effort to speed decision-making and invest more in new restaurant development.
The news comes just a week after rival McDonald’s announced a similar corporate reorganization, also with plans to accelerate restaurant openings and improve efficiency. McDonald’s said it will communicate more details on layoffs to employees by April 3; Wendy’s didn’t give a date. Wendy’s President and CEO Todd Penegor said during a conference call with investors that the company is starting its reorganization from a position of strength, with 12 consecutive years of growth in global same-store sales, or sales in restaurants open at least 15 months. The U.S. business accelerated in the fourth quarter with promotions like a peppermint-flavored Frosty and a $5 Biggie Bag, which combines a sandwich, chicken nuggets, fries and a drink.
Penegor emphasized that Wendy’s will narrow its focus to traditional stores, not to-go only options or other experimental designs. He also wants the company to continue its momentum in the fast-growing breakfast segment __ which it reentered in 2020 __ and improve store operations.
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