WSJ McDonalds to close offices briefly ahead of layoffs
- In a January memo to employees, McDonald’s President and CEO Chris Kempczinski said the company was evaluating roles and staffing levels in various parts of the company.
- Policymakers at the Federal Reserve have forecast the unemployment rate may rise to 4.6% by the end of this year, a sizable increase historically associated with recessions.McDonald’s has more than 150,000 employees in corporate roles and in company-owned restaurants.
- The memo was first reported by the Wall Street Journal.Though the U.S. labor market remains strong, layoffs have been mounting, mainly in the technology secto r, where many companies over-hired after a pandemic boom.
- “We have historically been very decentralized in some areas where we reinvent the wheel way too often,” Kempczinski said during a January conference call with investors.
- It has 150,000 employees in corporate roles and in company-owned restaurants.
- IBM, Microsoft, Amazon, Salesforce, Facebook parent Meta, Twitter and DoorDash have all announced layoffs in recent months.There have been cuts in other sectors as well.
NEW YORK (AP) A report says McDonalds has closed its U.S. offices for a few days as the company prepares to inform employees about layoffs.The Wall Street Journal cited an internal email from the C [+1973 chars]