New Owner of Hamburger Chain Should Minimize Job Losses and Guarantee Fair Notice and Severance to All Laid Off Employees
May 20, 2008
New York, NY- Brandworkers International has called on billionaire hedge fund investor and new owner of the Wendy's fast food chain, Nelson Peltz, to treat employees with respect and minimize job losses as his holding company carries out widely-anticipated layoffs. Brandworkers expressed disappointment with a letter recently sent to Wendy's employees by incoming CEO Roland Smith in which he not only issued a warning of job cuts but failed to offer assurances of minimum notice or adequate severance pay. Mr. Smith also suggested that existing employee benefits could be overhauled as soon as 2009.
"No lasting guarantee of benefits, promised job losses with no
mention of severance or notice, and CEO Smith instructs Wendy's
employees: 'don't get cynical'," said Natalie Zuckerman, a
Brandworkers campaigner. "Workers don't need the corporate buzz-words and home-spun stories about youth that Mr. Smith offered up in his letter, they need concrete assurances about their future. Mentioning there will be 'some type of a retention plan' yet to be determined does not suffice."
