McDonald’s temporarily closes corporate offices due to layoffs and restructuring

Quick-service restaurant chain McDonald’s announced Monday it was planning a round of corporate layoffs and closed its US and some foreign offices until Wednesday as part of a restructuring plan.

In a memo to its employees posted on the TheLayoff.com website, McDonald’s asked its corporate staff to work from home in the interim and said it wanted to “ensure the comfort and confidentiality” of its staff “during the notice period.” .

An anonymous source told Reuters that McDonald’s will have more employees in new roles or receiving promotions this week than will be laid off.

The company has more than 150,000 employees globally, 70% of them outside of the United States.

The layoffs do not include the more than two million workers at McDonald’s restaurants around the world.

The company said in the memo that the layoffs seek greater efficiency.

“There is a clear opportunity before us to be faster and more effective in solving problems for our customers and our people and to scale our successful innovations to market globally with speed.”

McDonald’s declined Monday to comment on the memo or the layoffs. The Wall Street Journal was the first outlet to report on the memo.

Although the job market in the United States remains strong, layoffs have been piling up, particularly in the technology sector, where many companies overhired during the pandemic.

IBM, Microsoft, Amazon, Salesforce, Meta (Facebook’s parent company), Twitter and DoorDash have all announced cuts in recent months.

McDonald’s shares rose just under 1% on Monday. The company’s revenue remained flat at $23.2 billion for all of 2022, but its net income fell 18%, partly due to the sale of its Russian operations.

[Con información de AP y Reuters]

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