Yum Brands Inc. has initiated a companywide restructuring plan that will eliminate several hundred white-collar jobs and shift up to 200 corporate jobs to the company’s five fast-food brands.
Yum is the parent company of KFC, Pizza Hut, Taco Bell, A&W Restaurants and Long John Silver’s. KFC, Long John Silver’s and A&W are headquartered in Louisville, Pizza Hut is based in Dallas, and Irvine, Calif., serves as headquarters for Taco Bell.
Company officials have said the restructuring is more connected to its strategy to sell some of its company-owned stores to franchisees – a trend that is being seen throughout the industry – than the country’s existing economic conditions.
Yum currently owns about 20 percent of KFC and Pizza Hut stores and plans to reduce that to approximately 10 percent. As a result, some overlapping positions are being eliminated. (The company plans to keep its ownership of Taco Bell stores – a line that is more profitable than the others – at 20 percent.)
The changes are being implemented immediately and are expected to be complete by the early part of next year. The restructuring will reduce the number of employees at Yum’s corporate headquarters from about 1,400 to 1,100.