{
  "docId": "019dd923-622c-750b-8b9c-dad126beff94",
  "docSlug": "416ab93b6285",
  "documentTitle": "Darden Restaurants, Inc. (DRI)",
  "authorId": "03_Starboard_Value",
  "authorName": "Jeffrey C. Smith",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2014-09-11 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 125,
  "pageCount": 294,
  "prevPage": 124,
  "nextPage": 126,
  "slideType": "propose_solution",
  "function": "propose_solution",
  "density": "overcrowded",
  "nDataPoints": 5,
  "notes": "Includes a callout box for 'Areas not quantified' and a summary table of financial opportunities.",
  "elementsJson": [
    "headline_text",
    "bullet_list",
    "callout_box",
    "data_table"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b9c-dad126beff94/125",
  "deckHref": "/decks/019dd923-622c-750b-8b9c-dad126beff94",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b9c-dad126beff94.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-dad126beff94#slide-125",
  "components": [
    {
      "bbox": {
        "h": 0.15,
        "w": 0.38,
        "x": 0.59,
        "y": 0.61
      },
      "kind": "callout",
      "text": "Areas not quantified\nDirect labor cost at SRG\nReduction of menu complexity opportunity\nKitchen equipment opportunity",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "13c197cb-fd78-4dd0-96fc-b3883e8f3b95",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "callout",
      "text": "Focus on the labor cost reduction opportunity and instill that mindset across the entire company.",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd952-fb95-7708-ad49-706b4f785096",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.3,
        "w": 0.85,
        "x": 0.08,
        "y": 0.31
      },
      "kind": "list",
      "text": "Employ part-time workers to do morning prep work instead of chefs.\nWork with suppliers to improve the outsourcing effort. Identify opportunities that can be outsourced (salad, soup, desserts).\nRefine back-of-the-house layout.\nIdentify opportunities for consolidation.\nRetrain operators to identify headcount reduction opportunities.\nPilot this across a few restaurants and implement once tested.",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "4876dcd1-2d45-4c6d-85ee-a21c613d046b",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.25,
        "w": 0.9,
        "x": 0.03,
        "y": 0.19
      },
      "kind": "list",
      "text": "Reduce menu complexity while improving quality and perceived variety.\nConduct back-of-the-house labor productivity improvement study with time studies to identify opportunities for improvement.\nDefine training functions that can be performed by in-store managers and GMs so the massive training staff opportunity can be realized.",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "53c4efd9-6a77-4eec-b91d-3b0835fbf8fb",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "labor costs: $177 million",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd952-fb95-7708-ad49-76cbbc2305cd",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.9,
        "x": 0.03,
        "y": 0.15
      },
      "kind": "paragraph",
      "text": "Focus on the labor cost reduction opportunity and instill that mindset across the entire company.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "a7581db9-31ef-4bb6-af17-8019e3d7ba69",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.15,
        "x": 0.8,
        "y": 0.83
      },
      "kind": "source-note",
      "text": "3.1% of current labor costs",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "351530d2-4047-4f5b-9276-1254bc4cfb9f",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.18,
        "w": 0.68,
        "x": 0.03,
        "y": 0.78
      },
      "kind": "table",
      "text": "Previous opportunities $114.0 million\n+ Olive Garden labor cost opportunity $36.0 million\n+ LongHorn labor cost opportunity $12.0 million\n+ Training staff opportunity $15.0 million\nCumulative opportunity $177 million",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "6205773c-b2f6-4aff-a809-1635cb159087",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.6,
        "x": 0.03,
        "y": 0.07
      },
      "kind": "title",
      "text": "Implementing the labor costs opportunity",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "98403aed-418f-495b-9984-86cb379f8d9c",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [],
  "arcBeats": [
    {
      "to": 150,
      "from": 61,
      "beatId": "7f4dff44-8750-44a5-80e9-2077a7cdbc5c",
      "arcName": "Overcoming the Monster",
      "arcSlug": "overcoming-monster",
      "beatName": "The Victory",
      "beatSlug": "overcoming-monster-the-victory",
      "evidence": "The document presents Starboard's plan for victory, including operational improvements and leadership changes.",
      "position": 3,
      "confidence": 0.8,
      "parentBeatName": "Turn",
      "parentBeatSlug": "turn"
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}