: McDonald’s restructuring goes company wide, hundreds of jobs hit: report
McDonald’s Corp. MCD job cuts look to go company wide and will likely result in hundreds of layoffs and compensation reductions, The Wall Street Journal reported Friday, citing sources close to the matter. Earlier in the week, the Journal reported the fast-food giant was closing corporate offices to prep for the cuts. With markets closed for Good Friday, McDonald’s shares finished the shortened week Thursday up 1.2%, while the Dow Jones Industrial Average DJIA gained 0.7%, the S&P 500 index SPX slipped 0.1%, and the tech-heavy Nasdaq Composite Index COMP shed 1.1%. McDonald’s currently employs about 150,000 worldwide, so a shedding of 1,000 jobs would account for less than 1% of staff.
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