McDonald's Reportedly to Cut Jobs <b></b>

Mar 31, 2003

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

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