Yum Brands says it is cutting several hundred jobs

The restructuring is part of Yum's strategy to sell more company-owned stores to franchisees, spokesman Jonathan Blum said. The operator of KFC, Taco Bell and Pizza Hut said last month its third-quarter U.S. operating profit fell 16 percent, due to surging commodity prices and lagging KFC sales.

"We believe this will enable us to operate more effectively and improve our cost structure,"Blum said in detailing the cutbacks in a phone interview.

The moves won't affect Yum's high-growth international operations, led by its robust China division. Strong overseas sales have more than offset sluggish U.S. results.