McDonald's temporarily shuts US offices as it gears up to announce corporate layoffs: Report

Published : Apr 03, 2023, 08:54 AM IST
McDonald's temporarily shuts US offices as it gears up to announce corporate layoffs: Report

Synopsis

McDonald's, one of the world's largest fast-food chains, will temporarily close all its offices in the US this week as it prepares to inform its corporate employees about a fresh round of layoffs, suggested media reports. 

Burger chain McDonald's Corp is temporarily closing its US offices this week as it prepares to inform corporate employees about its layoffs as part of a broader company restructuring, the Wall Street Journal reported on Sunday.

According to the report, McDonald's requested some US staff members and some international workers to work from home from Monday through Wednesday so it could make staffing choices virtually. How many workers will be let go is unknown.

The Chicago-based business stated in the letter seen by the Journal that "during the week of April 3, we will communicate key decisions related to roles and staffing levels across the organisation." According to the report, McDonald's also requested that staff members postpone all in-person meetings at the company's offices with suppliers and other outside parties.

Also Read | Infosys' Narayana Murthy gives leadership lesson; adds it 'makes one feel lonely on top'

As part of an updated business strategy, the fast-food chain announced in January that it would evaluate the corporate employment numbers. This evaluation could result in cutbacks in some areas and growth in others.

By Monday, McDonald's is anticipated to start making significant announcements. The layoffs are expected to be announced by Wednesday.

Job cuts are rising as companies try to counter a global economic slowdown and soaring inflation. Several tech giants -- including Google, Amazon, and Facebook -- have drastically scaled down their operations recently. 

Also Read | Google to cut down free snacks, laundry services, other perks to save money: Report

The widespread cutbacks in US software firms have particularly hurt people from India. Numerous employees with temporary visas who were employed in the US are now unemployed and have a very short window of opportunity to find new employment.

PREV

Stay updated with all the latest Business News, including market trends, Share Market News, stock updates, taxation, IPOs, banking, finance, real estate, savings, and investments. Track daily Gold Price changes, updates on DA Hike, and the latest developments on the 8th Pay Commission. Get in-depth analysis, expert opinions, and real-time updates to make informed financial decisions. Download the Asianet News Official App from the Android Play Store and iPhone App Store to stay ahead in business.

 

Read more Articles on

Recommended Stories

Mumbai offers highest CNG savings over petrol, Delhi over diesel: Report
Adani meets Nadella, discusses AI as Microsoft invests $17.5B in India