Papa John’s to close more than 300 stores, cut corporate workforce
Newsy
Papa John’s plans to close more than 300 underperforming restaurants by the end of 2027, including about 200 locations this year.
Papa John’s plans to close more than 300 underperforming restaurants by the end of 2027, including about 200 locations this year, as the pizza chain works to improve performance following a difficult quarter.
The company said sales declined 5.4% during the period and announced it will lay off about 700 corporate employees, or roughly 7% of its workforce.
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Chief Executive Todd Penegor said in a statement that the company is currently undergoing a "transformation," which he is encouraged by.
“These actions, alongside recent changes to our organizational structure to drive efficiencies, provide a strong foundation for our future,” Penegor said.
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