McDonald's Shares Details Of Restructuring Plan
McDonald's Corp. (MCD) is expected Tuesday to detail the changes to its organizational structure in the U.S., the Wall Street Journal reported.
In a new memo sent ahead of a town hall meeting planned for Tuesday morning, McDonald's USA President Chris Kempczinski reportedly sought to reassure U.S. employees and franchisees that they will get more support from the company even though some positions will be eliminated.
In the memo, Kempczinski reportedly said all employees who will be laid off will be notified by June 28, but didn't say how many would lose their jobs in the restructuring.
McDonald's already has cut an undisclosed number of corporate jobs in the last two years and said it is reinvesting some of its cost savings in technology, such as digital ordering, that it believes will lead to growth.
The company said it expects to record a pretax charge of $80 million to $90 million in the second quarter of this year because of employee severance costs and other costs associated with the closing of field offices. (dpa)
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