Panera to lay off more than 300 corporate employees ahead of IPO

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Panera to lay off more than 300 corporate employees ahead of IPO
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Panera is trimming its corporate headcount, the Wall Street Journal reported on Wednesday. The move will reportedly impact 17% of staffers.

Panera reportedly is trimming its corporate headcount. Its 1,800-person corporate workforce is becoming about 17% smaller as part of the move, the Wall Street Journal reported Wednesday. Based on those reported figures, around 300 will lose their jobs. The outlet attributed its information about the layoffs to internal communications it had seen.

This year, some major companies have gone public, including chip company Arm Holdings, food grocery delivery service Instacart and, most recently, sandal maker Birkenstock.

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