The US economy has been facing challenges due to the COVID-19 pandemic, and many businesses have been forced to make difficult decisions in response to the crisis. McDonald’s is not the only major company to be taking such steps; other businesses have also announced layoffs and restructuring plans.
The fast food industry has been hit hard by the pandemic, with many restaurants forced to close temporarily or reduce their operating hours. This has led to a decrease in revenue for businesses, and many have struggled to keep up with their expenses.
McDonald’s has been working on a broader strategic plan for the burger chain, and the company had indicated in January that it may make “difficult” decisions about changes to its corporate staffing levels by April. The company’s CEO had stated that they wanted to move forward with their retrenchment policy as it was expected to save money, but they had not set a dollar amount or the number of jobs they were looking to cut.
The company’s decision to temporarily close off its offices and inform employees about its layoff plans virtually is an attempt to ensure the comfort and confidentiality of its people during the notification period. The move also shows the company’s commitment to the safety of its employees amid the ongoing pandemic.
The fast food chain has been implementing various measures to adjust to the new normal, such as delivery, drive-thru, and curbside pickup services. These changes have helped to keep the business afloat, but they have also come with their own challenges.
The impact of McDonald’s restructuring plan and the resulting layoffs on its employees remains to be seen. However, the company’s decision to take difficult steps during these challenging times is a reflection of the larger economic crisis faced by businesses worldwide.