McDonald's mulling corporate job cuts
FOX Business Flash top headlines for January 6
Check out what’s clicking on FoxBusiness.com
Fast food giant McDonald's is considering trimming some corporate positions as part of a broader staffing assessment CEO Chris Kempczinski said Friday, warning employees that "difficult discussions and decisions" are on the horizon.
Kempczinski made the revelation in a message to global employees announcing the company's updated business strategy, Accelerating the Arches 2.0, which includes a reshuffling and possibly cutting positions as a way for the company to become more efficient and innovative and to trim costs.
McDonald’s is considering cutting some corporate jobs as part of its updated growth plan. (AP Photo/Gene J. Puskar / AP Newsroom) "[W]e will evaluate roles and staffing levels in parts of the organization and there will be difficult discussions and decisions ahead," the CEO wrote, adding that the company plans to inform impacted workers by April 3. MCDONALD'S UNVEILS FIRST AUTOMATED LOCATIONS, SOCIAL MEDIA WORRIED IT WILL CUT 'MILLIONS' OF JOBS "Some jobs that are existing today are either going to get moved or those jobs may go away," Kempczinski told The Wall Street Journal in an interview Friday. He told the outlet that he does not currently have a set dollar amount he aims to save or a number for how many positions might be cut. Chris Kempczinski is seen at the McDonald’s corporate restaurant at what was then the Oak Brook, Illinois, headquarters in 2017. (Nuccio DiNuzzo/Chicago Tribune/Tribune News Service via Getty Images / Getty Images) As part of its updated plans, McDonald's will also accelerate the pace of its restaurant openings, and said it may test more new concepts aimed at convenience for customers like the Order Ahead Lane offered at a recently opened Forth Worth, Texas, location. JUDGE HALTS CALIFORNIA FAST-FOOD LAW AS RESTAURANTS, UNIONS HAMMER EACH OTHER The fast-food chain had just over 40,000 restaurants globally at the end of 2021, according to its most recent annual report, with more than 13,000 U.S. locations. McDonald’s plans to accelerate its restaurant openings as part of its updated business strategy. (Jakub Porzycki/NurPhoto via Getty Images / Getty Images) GET FOX BUSINESS ON THE GO BY CLICKING HERE In October, McDonald's reported generating $5.87 billion in third-quarter revenue, compared to $6.20 billion in the same period last year. Its net income narrowed from $2.15 billion to $1.98 billion. FOX Business' Aislinn Murphy contributed to this report. Source: Read Full Article
Ticker
Security
Last
Change
Change %
MCD
MCDONALD’S CORP.
269.47
+7.31
+2.79%
