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Bloomin’ Brands ( (BLMN) ) has issued an announcement.
On February 20, 2025, Bloomin’ Brands announced a workforce reduction at its Tampa, Florida Restaurant Support Center, affecting approximately 100 employees or 17% of the team. This restructuring follows strategic changes, including the re-franchising of its Brazil operations in December 2024, and aims to align costs with business size and focus on growth. The company anticipates incurring $7.5 million in pre-tax costs due to severance but expects annual savings of $22 million. Executive leadership changes were also announced to support the new operational model.
More about Bloomin’ Brands
Bloomin’ Brands, Inc. operates in the restaurant industry, specializing in casual dining. Its primary brands include Outback Steakhouse, Carrabba’s Italian Grill, and Bonefish Grill, with a focus on providing diverse dining experiences primarily in the United States.
YTD Price Performance: 2.01%
Average Trading Volume: 1,764,114
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $1.03B
See more insights into BLMN stock on TipRanks’ Stock Analysis page.
