Posted on 04/08/2023 8:28:52 PM PDT by SeekAndFind
McDonald’s Corp.’s restructuring this week is reaching company wide, resulting in hundreds of layoffs and for some employees reductions in their packages, according to people familiar with the matter.
Job cuts and changes at the burger chain have affected employees in the U.S. and abroad, at McDonald’s Chicago headquarters and in its field offices, and across departments including marketing and operations, the people said.
The corporate restructuring has unfolded in a multipart process this week, some of the people said and internal company communications showed. McDonald’s temporarily closed its U.S. offices and started informing some corporate employees about layoffs on Monday, The Wall Street Journal has reported.
The fast-food chain also offered some employees a chance to remain at the company with reductions in their compensation packages, including changes to titles and benefits such as bonuses and equity grants, according to people familiar with the matter.
This week’s restructuring moves included role changes or promotions for other employees, including nearly 10 U.S. officers working across operations, finance and marketing, according to an internal company email sent Thursday.
Companies across the U.S. economy are shedding jobs, often white-collar positions, amid concerns about a potential recession. Layoffs that began in the tech sector last year have spread to other industries, with companies from Goldman Sachs Group Inc. to Amazon.com Inc. recently trimming their ranks.
McDonald’s told U.S. restaurant owners and operators in the Thursday email that it would close its field offices in coming months, saying that they are underutilized with most field staff spending their time in restaurants. The company said instead it would adopt a single, national structure overseeing its 10 field offices.
“While the McDonald’s Brand is in the strongest position it has been in years, we also recognize that our business has grown increasingly complex in recent years,”
(Excerpt) Read more at wsj.com ...
Any Chicago employee who got laid off and was forced to move to find another job will one day look back and smile.
First step should be to move their Corporate HQ out of Chicago
Here come the Robots! Or, at least more of them.
All those mega horned pickets from socialist rabble rousers demanding $18. per hour + the COVID slump is a big reason.
“Enjoy your extra *BIG ASS FRIES*!”
Might we hear the word ‘racism’? Idk, just throwing it out...
Or from any other classified group...?
$18 per hour? Yeah, I guess $15 per is so, umm 2 years ago.
What the heck is an equity grant?
RE: What the heck is an equity grant?
An equity grant is a non-cash compensation given to someone, giving them a percentage of ownership to a company. This may come in various forms, such as stock options, restricted stocks, virtual or phantom options, or stock appreciation rights.
Lol! I can imagine some crabby cashier working the window talking just like that, after the customer first rejects the large order of fries, because they are now too cold after a long wait.
“Would you like some LIES with that?”
I wonder if those cuts affect folks in the “Diversity” department?
If the brand is so strong, how come the picture in the article has no golden arches?
Is the equity grant given only to some protected class?
They sure won’t make up any loss on their milkshakes
This has been in the works for quite some time, the offices were closed last Monday through Wednesday because they did NOT want anyone talking to news people, when they left the building, and YES, my information is from someone who would know, inside MacDonald's.
It has less than nothing at all to do with that!
Lower your prices or you’re doomed.
Just too expensive for what used to be bargain priced food.
I hope they get rid of the bozo that thought up the prerecorded message at the drive through machine that sounds like someone taking your order by asking a question. Will you be ordering with your app today? or, would you like to try our new bacon double cheeseburger? I don’t like being fooled.
When MacDonald's opened, the average grammar school teacher made $4,000 a year or less, the price of meat, etc., was far less than it is today. The minimum wage in N.Y. was 50 CENTS an hour.
The reshuffling has ONLY to do with CORPORATE STAFF! It has been planned for fore a while before it was announced.
Some people got fired due to something they did or didn't do correctly and deadwood...NOT PRICES OF THE PRODUCTS, burger flippers, minimum wages, nor any other pathetic garbage that so many here keep posting.
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