Casual dining chain estimates $10 million in savings.
As part of a cost reduction and organizational streamlining initiative, Cracker Barrel Old Country Store, Inc. (Nasdaq:CBRL - News) eliminated roughly 60 management and staff positions. Most of the employees affected by the layoff worked in the company's home office in Lebanon, Tenn. The company estimates this step will result in pre-tax savings of $10 million.
Cracker Barrel was able to make these changes as a result of improved efficiencies the company has realized in corporate administrative functions in recent years, according to a company press release. The reduction in force did not affect any store positions.
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