LOUISVILLE, Ky. (WDRB) — Yum! Brands is relocating its KFC headquarters from Louisville to Plano, Texas, where it will combine operations with the Pizza Hut brand — a move costing the company $7 million.
The costs, according to a U.S. Securities and Exchange Commission filing, is primarily for employee severance for those who are not relocating to Texas, according to our partners at Louisville Business First.
About 100 corporate positions are being affected, with the relocations expected to happen over the next six months. Another 90 remote employees will relocated over the next 18 months. It is unknown how many employees opted out of relocating.
Yum! Brands officials told WDRB News in February the transition is intended to "foster greater collaboration among brands and employees." However, several Kentucky officials find the move disappointing.
"I think it's an absolute shame," U.S. Rep. Morgan McGarvey told WDRB in February. "Several years ago, the Kentucky General Assembly passed the right-to-work law. They reduced corporate taxes, and they said 'this is going to bring jobs here.' Since then, we've lost Papa Johns, we've now lost KFC. We know Humana is kind of not the presence it once was here."
Yum! Brands and the KFC Foundation will still have corporate offices in Louisville while Taco Bell and Habit Burger & Grill will remain in Irvine, California.
Yum! is Louisville's third-largest public company doing about $7 billion annually in revenue.
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