Shake Shack

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Shake Shack has a strong balance sheet and I trust that with some really tough decisions along the way Shake Shack will prevail. Reality at this moment in time is not fun to contend with, but if you believe that you will be in business on the other end, then every decision you make starts to take on a slightly different framework. Some of the hardest things over the past four years have been recruiting great talent because unemployment has been so amazingly low,. it's been hard to recruit great talent.

Back in March of 2020, Danny Meyer laid off 2,000 people — that's 80 percent of staff at Union Square Hospitality Group, representing 20+ restaurants across the country. It was a heartbreaking decision made with full understanding of the impacts, short and long-term — or as much as can possibly be known in this volatile time. In this special episode, Danny shares why and how he acted so quickly, the process he and his team used to make this decision, the impact of the layoff, and what comes next for his industry.

Read a transcript of this episode: https://mastersofscale.com/danny-meyer-layoffs/

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