McDonald's to Take Charge, Cut Openings
Oak Brook, Illinois-McDonald's Corp. will take a fourth quarter charge of as much as $200 million to cover previously announced staff cuts and a restructuring in the U.S. market, and is cutting back the number of restaurants it will open in 2002. The fast-food company, which has reported four consecutive quarters of declining earnings, will slow its growth rate by about 200 restaurants next year, adding a net of between 1,300 and 1,400 restaurants as it slows additions in troubled economies such as Brazil. -Reuters
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