McDonald's may layoff employees, ‘key announcements’ by April 3

The move is part of the company's larger, updated business strategy to build more restaurants.

Published on: Jan 8, 2023, 12:24:08 IST

By HT News Desk, New Delhi

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In April, McDonald's may layoff employees in some departments, according to CEO Chris Kempczinski, with the move being part of a larger, updated business strategy to build more restaurants.

Kempczinski laid out the plan to the Chicago-headquartered company's global employees on Friday.

“We will look to our strategy and our values to guide how we reach those decisions and support every impacted member of the company. We will begin announcing key decisions by April 3,” read a letter from the CEO of the American multinational fast food chain.

The strategy, which also includes a review of McDonald's corporate staffing, calls for the firm to cancel or deprioritise a few initiatives and, at the same time accelerate store development. Therefore, besides layoffs, the move may also lead to expansion of some departments.

If the layoffs, however, do take place, McDonald's will join a growing list of companies – mostly tech and e-commerce giants – that have, in recent months, terminated staff, or have plans to do so. These include Meta, Twitter, Amazon, Apple, Vimeo among others.

Also Read: ‘Grateful for contribution, but right thing to do’: Vimeo to layoff 11% employees

The fast food major, however, did not reveal how many new stores it wants to open. At present, it has presence in more than 38,000 locations in over 100 countries. Its global workforce stands at more than 200,000.

(With Reuters inputs)

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HT News Desk
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