Layoff wave: McDonald's CEO Chris Kempczinski says layoffs coming by April to reduce costs

McDonald's CEO Chris Kempczinski has announced that layoffs are coming by April, as the global fast food chain aims to reduce costs and "free up resources to invest in growth."

According to Kempczinski, "certain jobs that are already existent are either going to get shifted or those jobs may disappear."

By April 3, McDonald's intends to announce its decision regarding layoffs.

In its most recent report, McDonald's stated that its corporate staff and restaurant employees numbered close to 200,000.

In an email to staff members, Kempczinski stated that there will be "tough discussions and decisions ahead" as they "will examine positions and personnel levels in portions of the organisation."

"A few initiatives will be dropped or given lower priority. This will enable us to move more quickly as a company, lower our overall costs, and free up funds for growth-related investments "In the memo, he stated.

In reality, as more people ordered takeaway and sales increased during the pandemic, McDonald's made a lot of money.

The CEO, however, noted that while there is plenty to be proud of, "Additionally, you informed us that there is more we can do. While our performance is excellent, there is still room for improvement."

As a result of the workforce adjustments, Kempczinski stated that he anticipates saving money.

As the New Year began, several of the biggest US corporations, including Amazon, Goldman Sachs, and Salesforce, announced significant layoffs.