An American multinational fast food chain, McDonald’s CEO Chris Kempczinski has confirmed that the company may layoff employees in April 2023 as part of a cost-cutting exercise.
The layoff will affect the employees from the corporate wing of the company. The CEO has told Wall Street Journal that “some jobs that are existing today are either going to get moved or those jobs may go away”.
According to CNN reports, The CEO Chris Kempczinski, McDonald’s wrote in a memo to employees and shared with investors saying, “We will evaluate roles and staffing levels in parts of the organization and there will be difficult discussions and decisions ahead.”
“We will look to our strategy and our values to guide how we reach those decisions and support every impacted member of the company. We expect to finalize and begin to communicate key decisions by April 3”, Chris Kempczinski added.
“Certain initiatives will be de-prioritized or stopped altogether. This will help us move faster as an organization, while reducing our global costs and freeing up resources to invest in our growth,” Chris Kempczinski further added.
The company is reported to have around 2,00,000 corporate staff and workers. Earlier, McDonald’s in India (North and East) announced plans to double the number of its outlets over the next three years.
McDonald’s was looking for an expansion phase and was planning to hire around 5,000 people. The company has launched its largest restaurant in India in Guwahati. The restaurant is spread over 6,700 square feet and can seat 220 people at a time.
Most recently, American multinational technology company Amazon has also announced to layoff more than 18,000 employees. This affected nearly 1000 employees in India.
Reportedly, Salesforce began a fresh round of layoffs and it will affect many employees followed by Goldman Sachs layoffs.