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McDonald’s Corporation (New York Stock Exchange:MCD) reportedly told corporate employees that its US offices will be closed earlier this week so the company can announce layoffs as part of a broad restructuring.
The Wall Street Journal he cited an internal email to employees that said employees should work from home Monday through Wednesday so the fast-food giant can deliver layoff news virtually.
“During the week of April 3, we will communicate key decisions regarding staffing roles and levels throughout the organization,” MCD wrote to employees, according to the Journal.
the publication saying The memo also directed US and some international corporate staff to cancel all in-person meetings at the company’s Chicago headquarters.
Analysts expect McDonald’s to report first-quarter earnings later this month. The fast-food chain beat analysts’ estimates for fourth-quarter profit and revenue in January but spooked the market after management warned higher input costs meant operating margins for 2023 could fall below than were then the analyst consensus estimates.
Seeking Alpha contributor Waterside Insights recently submitted a Sell for Stock thesis.
