Company is planning to reduce 4% of its global workforce.

Soft restaurant traffic and market share losses cut into sales.

The company lowered its sales outlook for fiscal year 2024.

Attacks in the Red Sea and drought in the Panama Canal are causing delays.

Charges add up to $71 million, but price/mix increases 12%.

Brett Briggs and Susan Doniz join Yum!, Rita Fisher joins Lamb Weston.

Raises full-year guidance for net income and net sales.

Pricing actions, improved mix outweigh softer volumes in the second quarter.

The agreement includes roughly $170 million in Lamb Weston stock and $510 million in cash.

Quick-service restaurant traffic is holding while other foodservice segments decline.