Burger King was gobbled up by private equity firm 3G Capital in a $4 billion deal earlier this year. Now, the new owner is cleaning house, dismissing 413 people company-wide, including 261 at corporate headquarters in Florida. The burger chain has hundreds of thousands employees worldwide, but the vast majority of those workers are hired by franchisees at low wages. The people affected by this layoff were mostly high-paid executives who work directly for BK corporate. Prior to the layoff, an estimated 500 to 700 people worked at the Florida headquarters. So 261 lost jobs in Florida alone is a pretty substantial hit.
As more mergers and acquisitions occur you will see more headlines like these.
Organizations will grow in 2011, but they will also be on a “diet” to eliminate the “fat” in areas of lesser need.
How can your organization cut their fat in 2011?