Private equity firms are on a buying binge, snapping up giant restaurant franchise groups at high speed. Rather than targeting entire restaurant chains, they’re devouring the franchisees who run huge blocks of locations.
The appeal is obvious. Franchise portfolios are cash machines with a built-in growth engine. Investors get three easy wins: boost performance at existing units, open new stores and buy out other franchisees in the same system. And because these operators already know the business cold, PE money can scale them at high speed.
Sellers are lining up, too, especially in hot categories like Mexican fast casual, chicken, and anything drive-thru.
Read more
Verizon Cuts Over 13,000 Jobs as New CEO Launches Major Makeover
Photo by Justin Sullivan/Getty Images
Verizon is laying off more than 13,000 employees as it begins a sweeping restructuring under new CEO Dan Schulman. The cuts—largely outside the company’s unionized workforce—come as the telecom giant says its existing cost structure limits investment in customer-facing services.
Schulman framed the move as a full-throttle “reorientation,” saying Verizon must simplify operations and eliminate friction that frustrates users just as rivals step up their game.
The job reductions account for about 20 % of Verizon’s non-union managerial ranks, marking the company’s largest-ever layoff. A $20 million Reskilling and Career Transition Fund is being set up to help affected employees adapt.
Read more
Private equity firms are on a buying binge, snapping up giant restaurant franchise groups at high speed. Rather than targeting entire restaurant chains, they’re devouring the franchisees who run huge blocks of locations.
The appeal is obvious. Franchise portfolios are cash machines with a built-in growth engine. Investors get three easy wins: boost performance at existing units, open new stores and buy out other franchisees in the same system. And because these operators already know the business cold, PE money can scale them at high speed.
Sellers are lining up, too, especially in hot categories like Mexican fast casual, chicken, and anything drive-thru.
Read more
Verizon Cuts Over 13,000 Jobs as New CEO Launches Major Makeover
Photo by Justin Sullivan/Getty Images
Verizon is laying off more than 13,000 employees as it begins a sweeping restructuring under new CEO Dan Schulman. The cuts—largely outside the company’s unionized workforce—come as the telecom giant says its existing cost structure limits investment in customer-facing services.
Schulman framed the move as a full-throttle “reorientation,” saying Verizon must simplify operations and eliminate friction that frustrates users just as rivals step up their game.
The job reductions account for about 20 % of Verizon’s non-union managerial ranks, marking the company’s largest-ever layoff. A $20 million Reskilling and Career Transition Fund is being set up to help affected employees adapt.
Read more
The rest of this article is locked.
Join Entrepreneur+ today for access.
Read the full article here
