McDonald’s has closed their corporate offices on Monday and is preparing for massive layoffs amid Joe Biden’s America.
“During the week of April 3, we will communicate key decisions related to roles and staffing levels across the organization,” McDonald’s said in an internal email viewed by The Wall Street Journal.
McDonald’s employees were asked to work from home on Monday, Tuesday, and Wednesday as they make announcements related to staffing and company restructuring. This isn’t good.
It’s unclear as to how many corporate employees will be laid off this week.
The Wall Street Journal reported:
McDonald’s Corp. MCD 0.66%increase; green up pointing triangle is temporarily closing its U.S. offices this week as it prepares to inform corporate employees about layoffs undertaken by the burger giant as part of a broader company restructuring.
The Chicago-based fast-food chain said in an internal email last week to U.S. employees and some international staff that they should work from home from Monday through Wednesday so it can deliver staffing decisions virtually. The company, in the message, asked employees to cancel all in-person meetings with vendors and other outside parties at its headquarters.
The fast-food company has about 150,000 employees, working in both corporate roles and in McDonald’s-owned restaurants, with 70% of those positions based outside the U.S.
McDonald’s joins several other companies seeking to slash jobs amid high inflation and a slowing economy. Amazon said it would cut a total of 27,000 employees, mostly corporate workers, in two layoff announcementsthis year. Last week, Disney CEO Bob Iger announced that the entertainment company would slash 7,000 jobs by the summer, including shutting down the company’s metaverse department.
Layoffs have been particularly brutal for tech companies, with a total of 150,000 cut jobs in the sector so far this year, as the COVID-era tech bubble deflates amid a return to normal and higher interest rates.
McDonald’s reported $1.9 billion in net income in the most recent quarter, up 16% year on year.
Thanks to our friends at Fortune.com and The Gateway Pundit for contributing to this article.
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