- Pinstripes is planning to cut a number of employees as part of a plan to achieve $4 million in savings on corporate costs, CEO Dale Schwartz said Wednesday on the brand’s fiscal Q1 2025 earnings call.
- The “strategic corporate headcount reductions,” as Schwartz termed them, come after declining same-store sales and rising costs pushed the chain’s quarterly losses to $10 million, up from $3 million in the year-ago period.
- Prior to the changes to its corporate operations, the company identified and implemented $10 million in savings at the venue level, Schwartz said, including unspecified “strategic hourly and salaried labor savings.”
https://www.restaurantdive.com/news/pinstripes-warns-of-corporate-layoffs-as-losses-mount/726141/