McDonald's Cuts 225 Corporate Jobs
OAK BROOK, IL - McDonald’s announced it has cut 225 corporate employees in what the company says is part of a push to recapture profitability for its fast food business.
Cuts so far have included about 135 positions at its corporate headquarters in Oak Brook, IL, around 15% of its corporate workforce there. An additional 90 positions are being cut overseas, the company added, all of which were notified last month. According to AP, the company has cut a total of 350 jobs within the past nine months.
Today's corporate restructuring does not come as a surprise to shareholders, the publication Eater reports. Just months after ousting former its CEO and replacing him with Marketing Executive Steve Easterbrook, Easterbrook announced a broad turnaround plan acknowledging the tight financial position the company was in, as well as increased competition in the U.S. and abroad. Now putting a greater emphasis on healthy eating with trials of kale bowls in Southern California, avocado and spinach centric breakfasts in Australia, and customizable lettuce burgers, the company has still not found the success it's been counting on.
In its flagship U.S. market, the company last month reported its seventh straight quarterly decline in sales at established locations.
Stay tuned as AndNowUKnow continues to follow the business’ restructuring plans and its ventures into produce.
