McDonald’s Corp. is temporarily closing its U.S. offices this week as it notifies hundreds of corporate employees that they’re losing their jobs in a broader restructuring plan, according to a person familiar with the matter.
The company is notifying affected employees virtually and will close the locations to provide confidentiality out of respect for those affected, said the person, who asked not to be identified discussing private information.
McDonald’s in January said it planned to cut corporate jobs and eliminate certain initiatives, even as it accelerates new store openings. The job cuts would be final by April 3, the fast-food company said at the time. It had about 150,000 employees at the end of 2022, according to data compiled by Bloomberg.
The company asked employees to cancel all in-person meetings with vendors and other outside parties at its headquarters from Monday through April 5, the Wall Street Journal reported on Sunday. Reuters reported earlier Monday that the reductions would number in the hundreds.
The cuts come as big companies from the technology to retail industries have slashed their payrolls as accelerating inflation and the risk of a recession weigh on consumer demand. Walt Disney Co. last week began eliminating positions, while Walmart Inc., Amazon.com Inc. and Meta Platforms Inc. have also announced reductions.
McDonald’s shares rose less than 1% at 1:55 p.m. in New York.
