Papa John’s (NASDAQ:PZZA) announced that the company will be offering free college tuition for all of its employees moving forward.
The pizza chain said that all 20,000 of its workers will have access to the company’s new offer, which would take care of 100% of their college tuition costs. There is a caveat to this move however as the move only applies for online degree programs, although the company will cover tuition for both undergraduate and graduate students.
Private equity firm Starboard Value LP recently announced that it would be investing $200 million in the pizza chain. The move comes after founder John Schnatter resigned from his role as chairman in July of 2018 following an incident in which he used the N-word during a conference call.
He was also no longer the Papa John’s main spokesman following the move. The chain has been struggling to recover from this incident, as well as by the fact that the NFL is one of its sponsors–another controversial move at a time where many are boycotting the league at a contentious time in which players have been kneeling during the national anthem of games to protest police brutality.
Papa John’s has roughly 5,200 restaurants around the world, with about 700 of these being company-owned U.S. locations and about 2,700 being franchises in North America.
PZZA stock is up about 4% on Friday following the news.