That fast-food chain is McDonald's, which like many other American corporations is having to trim its human resources amid a collapsing economy. According to reports, McDonald's is engaging "a broader company restructuring" effort with this latest move, which will see its corporate offices "temporarily" closed for the time being.
An internal email sent to U.S.-based McDonald's employees last week, as well as to some international staff, told those affected to work at home from now on while the higher-ups decide how to reapportion the company's staffing structure.
"During the week of April 3, we will communicate key decisions related to roles and staffing levels across the organization," that email reads in part, according to The Wall Street Journal.
(Related: Remember when McDonald's tried but failed to convince its customers to eat fake meat burgers from Beyond Meat?)
McDonald's shares hit record high amid implementation of drastic cost-cutting measures
It is unclear at this time precisely how many employees McDonald's is planning to lay off during this restructuring effort, though we know from statements made back in January by CEO Chris Kempczinski that "difficult discussions and decisions" are having to be made.
Kempczinski dropped this bombshell on his company's employees during an earnings call, explaining that the "Arches 2.0" plan, as he is calling it, will be accelerating. That plan includes a "reshuffling" of employees as well as the possibility of cut positions.
McDonald's must become more efficient and innovative in order to survive, Kempczinski revealed about the plan.
"[W]e will evaluate roles and staffing levels in parts of the organization and there will be difficult discussions and decisions ahead," he wrote in an email, pointing to April 3 as the time when company workers would start to feel the heat from the changes being made.
"Some jobs that are existing today are either going to get moved or those jobs may go away," he added in a statement to the Journal.
Kempczisnki did not delineate much further about the set dollar amount he aims to save, or how many positions could be cut. All we know is that it will probably not be easy for many corporate employees of McDonald's, some of whom could lose their jobs.
On the flip side, McDonald's is planning to accelerate the pace at which it opens new restaurants. It also plans to test new concepts aimed specifically at enhancing convenience for customers, one of them being an "Order Ahead Lane," which is already being tested at a McDonald's location in Fort Worth, Texas.
Despite all this, McDonald's stock price closed at a record high on March 30, reaching $277.79 at closing as a result of analyst upgrades of earnings per share over the last three months.
That upgrades include projections of $10.49 to $10.58 in 2023 and $11.44 to $11.70 in 2024.
At the close of 2021, McDonald's had just over 40,000 restaurants globally, according to its most recent annual report. Of this, 13,000 locations are in the U.S.
"It's all 'Frankenfood' anyway," wrote one of our readers about how nothing McDonald's sells is healthy or nutritious, no matter its share price.
Another wrote that he remembers a time when McDonald's "still had personality" – but no longer.
"A blazing red roof adorned with tall, golden arches. A giant softball playland that was either indoors or outdoors. All sorts of kooky benches and tables with molds of Ronald McDonald and his friends strewn about the restaurant. A huge, bubbly plastic display that detailed all the latest Happy Meal toys."
"Now they look like a cold, stoic Starbucks ripoff."
Corporate America is shedding jobs like we are already in a depression. To learn more, visit Collapse.news.
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