Day: August 20, 2016

Yum wants a leaner workforce; KFC’s got more competition as chicken menus swell; and Pizza Hut India celebrates Olympians

A news summary focused on 10 big employers.

YUM wants to trim its workforce in advance of spinning off its China division, and has offered an unspecified number of employees early retirement deals at its Louisville corporate office and its three main divisions: KFC, Pizza Hut and Taco Bell. Yum employs about 1,000 at its corporate office and KFC domestic division. The fast-food giant would not disclose terms of the offers or a timetable. Overall, the company employs 505,000 workers. Yum agreed to separate its China division in October 2015, and has said it wants to complete the separation by Oct. 31 (WDRB).

KFC: The restaurant industry is awash in chicken, with the top 250 chains adding some 325 new chicken items during the 12 months ended June 30, according to research from Technomic. By comparison, only 73 new beef items were added in the same period as consumers turn to healthier, less fatty meat (CNBC).

P.V. Sindhu

PIZZA HUT is offering free pizzas today to anyone who shares the last name of the country’s Olympic-award winning badminton player P.V. Sindhu, who won a silver on Thursday. The chain had earlier made the same offer to customers with the same last name as Sakshi Malik, who won a bronze in wrestling. The players are the nation’s only medal winners in the Rio games, which end tomorrow (Business Standard).

Pizza king Schnatter leads 10 Kentuckians kicking $100K into state Republican party’s coffers

The Papa John’s founder and CEO John Schnatter and his wife Annette headlined a group of well-heeled donors to the state Republican Party last month, boosting its treasury by $151,000 and possibly pushing it even further ahead of the Democratics, according to its monthly Federal Election Commission report filed yesterday.

The party had $1.6 million on hand at the end of the month, after spending $188,000, the report said.

The Democrats have not filed their July report yet. But in June, they raised just $48,000 to the Republicans’ $155,000. That left the Democrats with only $48,000 in the bank.

The Schnatters and just eight other $10,000 donors accounted for 66% of all the party’s receipts during in July, underscoring the role of a handful of wealthy residents in this year’s elections. Among them, Schnatter especially can afford do be generous: His stake in the pizza chain he founded in 1984 soared above $800 million less than two weeks ago after a run-up in the stock’s price.

The others $10,000 Republican donors were:

  • John W. Landrum of Harrodsburg, retired.
  • Henry R. Saufley III, owner, Builders Supply.
  • Pam Stephens of Russell Springs, bookkeeper and accountant at Stephens Pipe and Steele.
  • James Stuckert of Prospect, partner at investment firm Hilliard Lyons, Diane Stuckert, retired.
  • E. Duncan Taylor of Lexington, horse breeder, Taylor Made Farms.
  • William Wilburn of Eubank, president, Cumberland Security Bank, and Sherry Wilburn, a homemaker.