Darden Restaurants revealed Thursday it has cut 11% of its corporate workforce at its Orlando headquarters and in other leadership positions as the owner of Olive Garden continues to endure slower sales during the coronavirus pandemic.
The company, which also owns LongHorn Steakhouse and other chains, said Thursday that same-restaurant sales were down 29% for the quarter ending Aug. 30 compared with the same quarter last year, but reported net earnings of $37 million from continuing operations.
At the same time, Darden has brought back thousands of its furloughed hourly employees in the past few months.
Darden shared details on the early retirement incentive program and corporate restructuring that led to the smaller corporate workforce on an earnings call.
“This restructuring resulted in a net 11% reduction in our workforce in the restaurant support center and field operations leadership positions,” CFO Rick Cardenas said, adding the move is expected to save the company between $25 million and $30 million annually.
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