Trade Resources Company News Tim Hortons Laying off Staff Ollowing Takeover by Burger King Worldwide

Tim Hortons Laying off Staff Ollowing Takeover by Burger King Worldwide

Canadian coffee and doughnut chain Tim Hortons is laying off staff both at its regional offices and corporate headquarters following takeover by Burger King Worldwide.

The job cuts is part of reorganisation after the company's shareholders approved the approximately $11bn deal.

Tim Hortons did not specify the exact number of job cuts.

Tim Hortons spokeswoman Alexandra Cygal said "We have had to make some difficult but necessary decisions today as we reorganize our company to position ourselves for the significant growth and opportunities ahead of us."

Burger King earlier promised to maintain 100% of existing employment levels at Tim Hortons' stores across Canada as part of the promises made to the government of Canada to get the takeover approved. But at the same time it refused to promise retention of more than 1,000 employees at the head office.

The deal has created the world's third-largest fast-food restaurant group, reports Reuters. The new company created through acquisition called Restaurant Brands International is based in Oakville, Ontario and is controlled by a New York-based Brazilian investment firm, 3G Capital.

Source: http://www.food-business-review.com/news/tim-hortons-axes-jobs-in-wake-of-burger-king-takeover-280115-4498011
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Tim Hortons Axes Jobs in Wake of Burger King Takeover