Wendy's incoming CEO says employees should expect job cuts

Roland Smith is the chief executive of Atlanta-based Triarc Companies Inc., which is acquiring Wendy's in an all-stock deal worth about $2.34 billion.

Triarc owns Arby's shaved roast beef sandwich restaurants. Under the deal, Wendy's International Inc. will continue to be based in the Columbus suburb of Dublin. Smith will be CEO of both brands.

In a letter to Wendy's employees on Monday, Smith says job cuts will happen as the company examines ways to become more efficient.