Cracker Barrel cuts 60 workers
LEBANON, Tenn.-Restaurant operator Cracker Barrel Old Country Store Inc. said Friday that it eliminated about 60 jobs as part of a cost-cutting program.
The job cuts included both staff and management positions, and most of the people affected worked at the company’s headquarters in Lebanon, Tenn., Cracker Barrel said.
Cracker Barrel said customers face tough economic conditions and the company expects its costs to rise next year.
The company said it expects to save about $10 million a year on a pretax basis as a result of the job cuts.
TVA fuel hikes passed along
TVA will increase its fuel cost adjustment 0.7 percent in August, the third monthly increase since May, when the rate slipped 0.4 percent.
On its website, TVA attributed the increase to price hikes for coal and purchased power.
The increase in August raises the total monthly fuel charge to 2.741 cents per kilowatt-hour from 2.689 in July after TVA raised rates 4.5 percent.
Tennessee Valley Authority spokesman Scott Brooks said August’s increase is smaller than July’s because hydroelectric power was more productive.