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Search resuls for: "Jessica Dinapoli Hilary Russ"


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☆ Burger chain McDonald's to lay off hundreds of corporate employees -source
  + stars: | 2023-04-03 | by ( Jessica Dinapoli Hilary Russ | Jessica Dinapoli | Hilary Russ | ) www.reuters.com   time to read: +1 min
NEW YORK, April 3 (Reuters) - The number of corporate employees McDonald's Corp(MCD.N) plans to lay off this week will tally in the "hundreds," a source familiar with the burger chain's thinking said on Monday, as the company moves forward with a previously announced restructuring. McDonald's will have more employees going into new roles this week or receiving promotions then being laid off, the source added. The chain known for its Golden Arches has more than 150,000 employees globally, with about 70% based outside of the United States, including in company-owned restaurants. The layoffs do not include the more than 2 million worker in franchised McDonald's restaurants around the world. As part of updating its strategy, McDonald's also plans to build new restaurants.
☆ Conagra CEO expects no more price hikes beyond this quarter
  + stars: | 2023-01-10 | by ( Jessica Dinapoli Hilary Russ | Jessica Dinapoli | Hilary Russ | ) www.reuters.com   time to read: +4 min
Known for its Birds Eye, Chef Boyardee and Slim Jim brands, Conagra is increasing some of its prices in its current fiscal 2023 third quarter. "We don't currently have any plans to take additional pricing beyond that," Connolly said, noting the plans could change if inflation persists. The price of groceries eaten at home rose an estimated 11%-12% in 2022, versus a 7%-8% increase in restaurant menu prices, according to estimates from the U.S. Department of Agriculture. "If you're going to spend your day at home instead of in the office, odds are the breakfast and the lunch that you're going to have is going to be a product like a Healthy Choice Power Bowl," Connolly said. "We've now moved it to just about everything we sell in our frozen meals business," he said.
☆ Conagra CEO expects double-digit inflation, easing protein costs
  + stars: | 2023-01-10 | by ( Jessica Dinapoli Hilary Russ | Jessica Dinapoli | Hilary Russ | ) www.reuters.com   time to read: +1 min
NEW YORK, Jan 10 (Reuters) - Conagra Brands Inc (CAG.N) Chief Executive Officer Sean Connolly said in a Reuters Newsmaker interview on Tuesday that he sees double-digit inflation in fiscal 2023, although protein costs are moderating. The company, known for its brands Birds Eye and Chef Boyardee, raised its full-year forecasts last week, after beating quarterly results, helped mainly by higher prices for its snacks and ready-to-eat meals. Its share price rose 12% in 2022 and shot up further after the improved forecasts. Packaged food makers have undergone several rounds of price increases in the past year to shield their profit margins from higher costs, which people have accepted as they find eating out far more expensive than cooking at home. Reporting by Jessica DiNapoli and Hilary Russ in New York Editing by Lisa Shumaker and Matthew LewisOur Standards: The Thomson Reuters Trust Principles.
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