McDonald’s has closed its US offices this week and asked its corporate staff to work from home as it prepares to announce a round of layoffs. The chain stated that the goal of the layoffs is to make McDonald’s more efficient. The company declined to comment on the memo. As the US job market remains strong, layoffs have been piling up, particularly in the technology sector. However, there is still a shortage of workers to fill jobs in the service sector, such as at McDonald’s restaurants. Federal Reserve officials have forecast that the unemployment rate could increase to 4.6% by the end of this year. McDonald’s has more than 150,000 employees in corporate roles and in company-owned restaurants, with about 70% of those positions in the United States. Shares of McDonald’s rose just under 1% on Monday, and the company’s revenue remained flat at $23.2 billion for all of 2022, but its net income fell 18%, in part due to the sale of its Russian operations.
In a memo to its employees, McDonald’s stated that it wanted to “ensure the comfort and confidentiality of our people during the notice period” and would hold all notice meetings virtually. He asked international corporate staff to follow the guidelines in their regions. The Wall Street Journal was the first outlet to report on the memo.
On a positive note, McDonald’s offers scholarships for North Texas students. The scholarships provide financial assistance to students who intend to attend college or a vocational school. McDonald’s is strongly committed to its community and career advancement programs, and it actively seeks to provide opportunities for its employees and future generations.
