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McDonald's Temporarily Closes US Offices And Plans Layoffs: Report According to reports, McDonald's also asked employees to cancel all in-person meetings with vendors and other outside parties at its headquarters

By Teena Jose

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The Wall Street Journal on Sunday reported that McDonald's Corp is temporarily closing its U.S. offices this week as it prepares to inform corporate employees about its layoffs as part of a broader company restructuring.

According to the report, in an internal email last week to U.S. employees and some international staff, McDonald's asked them to work from home from Monday through Wednesday so it can deliver staffing decisions virtually.

"During the week of April 3, we will communicate key decisions related to roles and staffing levels across the organization," the Chicago-based company said in the message viewed by the Journal.

The report further added, McDonald's also asked employees to cancel all in-person meetings with vendors and other outside parties at its headquarters. The fast-food chain said in January that it would review corporate staffing levels as part of an updated business strategy, which could lead to layoffs in some areas and expansion in others.

Furthermore, CNBC reported citing a company filing, stating that McDonald's CEO Chris Kempczinski received more than $10.8 million in compensation in 2020, despite the company missing performance targets. The report also revealed that in 2020, Kempczinski's base salary was $963,500. He also received $383,000 as other forms of compensation, like the use of the company's private plane, adding that Kempczinski's 2020 pay was 1,189 times higher than that of the median McDonald's employee, who made $9,124 that year, based on company estimates.

As part of an updated business plan, the fast-food company in January, declared that it will be reconsidering its corporate employment levels. This review could result in layoffs in some areas, while other areas could experience expansion.

Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.
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