McDonald’s Corp. (NYSE:MCD) Sacked 225 At Corporate HQ
McDonald’s Corp. (NYSE:MCD) said Thursday sacked 225 workers including 90 corporate employees posted overseas as part of a major restructuring at the fast-food chain, which has been fighting to reverse a long sales decline.
McDonald’s CEO Steven Easterbrook in May announced plans cut $300-M in costs by the end of Y 2017 as part of a corporate reset that includes simplifying and streamlining operations to make the company more nimble in an intensely competitive market.
“We do not take decisions that impact jobs lightly, but we committed in May to implement meaningful changes to reset our business, remove layers and find cost efficiencies, and we are acting with a sense of urgency on that commitment,” a McDonald’s spokesperson said in a statement.
| Symbol | Last Trade | Date | Change | Open | High | Low | Volume |
| NYSE:MCD | 99.35 | 6 August 2015 | -0.45 | 99.72 | 100.18 | 99.21 | 6,724,200 |
| HeffX-LTN Analysis for MCD: | Overall | Short | Intermediate | Long |
| Bullish (0.29) | Bullish (0.34) | Bullish (0.27) | Bullish (0.26) |
Stay tuned…
HeffX-LTN
Paul Ebeling
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