ALBAWABA - Americana Restaurants, listed on Saudi and Abu Dhabi stock exchanges, has reportedly eliminated 100 jobs as part of an internal restructuring process, according to sources in the media.
In addition to the job cuts, JPMorgan Chase has downgraded the company's stock rating from "overweight" to "neutral" due to the pressure resulting from weakened sales activity and delayed store opening plans. The bank's report highlighted that the company's operations in Egypt were the most affected. Fast-food chains such as KFC and Pizza Hut are facing boycotts in various Middle Eastern countries due to the repercussions of the conflict in Gaza.
