The takeover of Burger King by private equity firm 3G Capital continues to have an aftertaste for longtime employees worse than their cardboard-y fries. The Miami-based, quick-meat chain has laid off 413 workers company wide, with about 261 of those coming out of South Florida. The brunt of those laid off work is in the company's headquarters in the Blue Lagoon commercial park.
The move comes after significant layoffs amongst top execs in October shortly after 3G partners took over.
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"We are sorry to learn about the layoffs," says Beacon Council president Frank R. Nero in a statement. "Our focus is on those individuals affected. If there is any positive news in this, it is that Burger King has offered these employees a six-months salary and benefits package, and we hope they will be able to find jobs quickly in our community."
The Herald reports that layoffs are pretty typical for a private equity firm that just bought itself a new prize.
"Typically, the new owners impose severe cost cuts in an effort to boost profits, then sell the company for a windfall," writes Douglas Hanks.
Burger King is stuck in second place in an all-out burger war with McDonald's. In related news, has anyone tried Wendy's new fries? Pretty damn good, right?