WINSTON-Krispy Kreme Doughnuts, Inc. is reducing the number of employees in its corporate, mix plant, equipment manufacturing, and distribution facilities by approximately 25%. It is estimated that these actions will result in annual pre-tax savings of approximately $7.4 million and a cash restructuring charge of approximately $600,000 in the first fiscal quarter.

“Krispy Kreme is a great brand, and we are working very hard to help the Company rediscover its potential,” said Steve Panagos, President and Chief Operating Officer of Krispy Kreme.

Founded in 1937 in Winston-Salem, North Carolina, Krispy Kreme is a leading branded specialty retailer of premium quality doughnuts, including the Company’s signature Hot Original Glazed. Krispy Kreme currently operates more than 400 stores in 45 U.S. states, Australia, Canada, Mexico the Republic of South Korea and the United Kingdom. For more information, visit