Favorite Steak Restaurant Closes All 261 Locations

Amid financial challenges, a well-known restaurant chain is closing 261 locations and laying off all staff to curb costs. Instead of adapting to take-out and delivery services, the company opted for drastic payroll and benefit cuts. This decision follows internal upheaval, with former CEO Hazem Ouf recently dismissed over alleged mismanagement of $7 million in sales tax funds.

Having entered Chapter 11 bankruptcy even before the pandemic, the chain’s abrupt layoffs have left around 18,000 employees suddenly without jobs or healthcare during a global crisis. Under new CEO Marc Buehler, the company moved quickly to enforce these cuts, leaving former workers scrambling to secure alternative health insurance.

While the CraftWorks Foundation has provided some assistance through its HOPE Program, the situation has sparked debate over whether companies should prioritize financial survival or employee welfare during times of hardship.