McDonald’s closes offices, prepares for layoffs

McDonald’s Corporation is undertaking major changes to remain competitive in the fast-food industry. In order to inform corporate staff of potential job losses, the multinational fast food chain announced that all of its corporate offices in the United States will be closed for the week.

An internal email was sent to U.S. and international personnel to inform them of the need to work from home on March 29th, 30th, and 31st. Earlier in January, Christopher Kempczinski, CEO of McDonald’s Corp., had warned that “strong measures” and “hard decisions” were on the horizon with no specifics given on how many positions could be impacted. The email stated that some current positions may be reassigned or eliminated.

McDonald’s is striving to open more restaurants and exploring other convenience-based businesses to launch. For instance, a location in Forth Worth, Texas, has established an Order Ahead Lane to meet modern expectations.

On Thursday, March 30th, McDonald’s Corp. shareholders saw the company’s stock reach a record high. Financial analyst and Seeking Alpha contributor, David Zanoni, attributed the rise to the firm’s steady earnings per share growth over the past three months.

Additionally, McDonald’s is dedicating itself to a sound business strategy that includes cutting costs and stressing efficiency and innovation. These demanding decisions will likely have a positive effect on the burger giant’s future success, as evidenced by the recent investor confidence reflected in the highest stock rate.