Monday, April 3, 2023

McDonald's prepares for layoffs amidst closing its US offices temporarily

The Wall Street Journal reported on Sunday that burger chain McDonald's Corp. is preparing to inform corporate employees about its layoffs as part of a broader company restructuring by temporarily closing its offices in the United States this week.

According to the report, McDonald's asked US and some international employees to work from home from Monday to Wednesday in an internal email last week so that it could deliver staffing decisions virtually. How many employees will be fired is unknown.

Many US based firms are laying off employees seeing that the Meta's layoffs have gained increasing preference from its investors. Meta's shares have increased in its price after layoffs and this seems like a trend that other firms are following as well. McDonald's might do the same.

According to the report, McDonald's also instructed employees to postpone all in-person meetings with vendors and other outside parties at its headquarters.

By today, it is expected to know the layoff decisions from McDonald's and how many employees are affected.

McDonald's is the world's second-largest private employer with 1.7 million employees worldwide.

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