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Yum! Brands cutting hundreds of jobs
November 12, 2008
Los Angeles Times: Yum Brands Inc., parent company of KFC, Taco Bell, Long John Silver's, A&W and Pizza Hut, has announced it will eliminate several hundred jobs and shift several hundred more as part of a restructuring of its sluggish U.S. business.
The restructuring is part of Yum's strategy to sell more company-owned stores to franchisees, spokesman Jonathan Blum said. Yum's third-quarter U.S. operating profit fell 16 percent, due to surging commodity prices and lagging KFC sales.
Yum shares fell 53 cents to $25.34 in afternoon trading Nov 12.
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