McDonald's Reportedly to Cut Jobs
Oak Brook, Illinois--McDonald's Corp. will soon cut several hundred administrative jobs and is delaying plans to renovate old restaurants, according to recent news reports. The company has been struggling to overcome a year of declining sales and a burger war with competitors that has cut into revenue. McDonald's is also delaying a $300 million renovation plan to save cash, a move that has received lukewarm responses from franchisees. -Reuters
For reprints and licensing questions, click here.