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

In its most recent report, McDonald's stated that its corporate staff and restaurant employees numbered close to 2,00,000

FPJ Web DeskUpdated: Saturday, January 07, 2023, 05:01 PM IST
article-image
McDonald's CEO Chris Kempczinski | Image: McDonald's

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.

(If you have a story in and around Mumbai, you have our ears, be a citizen journalist and send us your story here. )

(To receive our E-paper on WhatsApp daily, please click here.  To receive it on Telegram, please click here. We permit sharing of the paper's PDF on WhatsApp and other social media platforms.)

RECENT STORIES

Indian entrepreneur robbed in Madrid, stranded in Spain without passport; issues video appeal to...

Indian entrepreneur robbed in Madrid, stranded in Spain without passport; issues video appeal to...

Ahead of crucial talks, IMF spots Rs 2 trillion breach in Pakistan's budgetary estimates

Ahead of crucial talks, IMF spots Rs 2 trillion breach in Pakistan's budgetary estimates

US to issue record number of business and tourism visas to Indians in 2023

US to issue record number of business and tourism visas to Indians in 2023

All flights cancelled as UK airline Flybe sinks into bankruptcy; hundreds lose jobs

All flights cancelled as UK airline Flybe sinks into bankruptcy; hundreds lose jobs

BMW launches its 3rd generation X1 with remote functions and live cockpit

BMW launches its 3rd generation X1 with remote functions and live cockpit