McDonald’s CEO announces layoffs

McDonald’s CEO Chris Kempzynski said in a note to employees Friday that McDonald’s plans to lay off some of its employees.

“We will be assessing the roles of employees and processes in parts of the organization and there will be tough discussions and decisions ahead,” Kempszinski warned.

Some initiatives will be denied priority or stopped altogether. This will help us move faster as an organization, while reducing our overall costs and freeing up resources to invest in our growth.”

The announcement comes as McDonald’s has managed to hold its own during the pandemic.

People asked for more to eat during the early days of COVID-19 and sales rose over the past year, helped by inflation.

But the company does not intend to rest on its laurels.

The plan outlined by Mr. Kempszynski aims to break down some internal barriers, foster innovation and tighten work around business priorities.

In order to realize those plans, Kempzynski said in an interview with The Wall Street Journal on Friday, the company will announce layoffs.

“Some of the jobs that exist today will be transferred or will disappear,” he said.

McDonald’s plans to communicate future hiring plans by April 3.

with information from CNN Business.