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Triarc plans job cuts at Wendy's |
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| May 13, 2008 12:37 PM UTC |
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Tracked Blogger
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Via BloggingStocks:
Filed under: Management, Wendy's Intl (WEN) Give Triarc (NYSE: TRY) CEO Roland Smith credit for forthrightness. Less than a month after the company announced it would acquire Wendy (NYSE: WEN)'s -- and well before the deal has even closed -- he wrote a letter to the company's employees saying in effect "Welcome to our conglomerate, you're fired!" to borrow a line from Isadore Barmash's book.Well, not exactly. Triarc -- which is the parent company of Arby's -- isn't a conglomerate, and his letter had a bit more tact. He wrote: "There will be job cuts at Wendy's. I don't know how to put it any other way and say that I am acting with integrity. We will continue to be truthful with you about these as they come up." It's a bold strategy. Given Wendy's struggles in recent years, he'll need all the help he can get in making this acquisition work, including strong employee morale. While immediate job cuts might help the bottom line, the impact on the company's remaining employees could make it far from a no-brainer. Smith is betting that straight talk will pay off, but most employees would probably prefer job security. This letter may lead to a less than friendly welcome when Triarc takes control.Read | Permalink | Email this | Comments <map name="google_ad_map_145-1193750"><area href="http://imageads.googleadservices.com/pagead/imgclick/145-1193750?pos=0" shape="rect" coords="1,2,367,28" /><area href="http://services.google.com/feedback/abg" shape="rect" coords="384,10,453,23" /></map> 
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