Facts

• McDonald’s Corp. has temporarily closed its US offices and started informing employees about layoffs as part of a broader company restructuring.
• US employees and some international staff were told to work from home Monday through Wednesday, so that the company could deliver staffing decisions virtually.
• This comes as the fast-food giant announced an updated growth strategy, called Accelerating the Arches 2.0., in January. CEO Chris Kempcinski also hinted at the revamp, saying, "As part of this work, we will evaluate roles and staffing levels."
• The restructuring will also reportedly see some employees begin new roles or receive promotions, with this number expected to surpass the number of layoffs, which won't include the 2M-plus workers in franchised restaurants.
• McDonald’s — which has more than 150k employees, 70% of whom aren't based in the US — is one of several companies, including many in the tech industry, such as Meta and Amazon, to announce layoffs in recent months.
• McDonald’s, however, is performing well financially. The company hasn't disclosed the number of layoffs, but it reportedly will be in the hundreds.