Updated to include comments from Jim Cramer.
Chipotle (CMG) employees and investors may be in need of a little morale boost after months of unfortunate headlines that have badly hurt sales and sent the company's stock price plunging.
As execs disclosed at the ICR Conference this week, Chipotle will shut all of its more than 1,900 restaurants on Feb. 8 for a few hours in the morning to hold an employee powwow of sorts. Employees from across the globe will be linked together via satellites.
Leading the meeting? None other than Chipotle's founder and co-CEO Steve Ells, who is scheduled to "thank" and "encourage" employees, as well discuss upcoming changes to operations, according to comments made at the presentation.
"We're excited about the opportunity to talk directly to all of our employees, who are doing such an awesome job," said Chipotle co-CEO Monty Moran sitting on a stage next to Ells and CFO Jeff Hartung. Moran, who created what Chipotle calls its "people culture," was quick to point out that Chipotle employees aren't exactly depressed despite the barrage of news related to people getting sick from E.Coli and norovirus.
"The morale in our stores is actually very, very high," Moran said. "I've gotten a number of emails, actually hundreds, just spontaneously from our managers, sort of saying, hey, these procedures you're implementing, they make sense -- we're really pleased with how upbeat and eager our top performers in our restaurants are to tackle this challenge."