Yum Brands is selling off many of its company-owned restaurants to franchisees and that sell-off means hundreds of jobs will be lost at its Louisville headquarters. Yum is one of Louisville’s largest employers. The company announced today that it would eliminate ‘several hundred’ white-collar positions, but wouldn’t say exactly how many.
Senior Vice President Jonathan Blum says the move has nothing to do with the worsening economy.
“We’ve been selling off our company owned stores for a number of years and we believe it will enable us to operate more effectively and improve our cost structure and this is an ongoing strategy,” says Blum.
Another 200 or so Louisville jobs will be moved to other cities, where Yum chains are headquartered. Blum says the jobs cuts will be complete by the end of the year.
Yum Brands owns Taco Bell, KFC, Pizza Hut, Long John Silvers and A&W All-American Food.