McDonald’s has asked corporate employees to work from home through Wednesday.
New Delhi:
McDonald’s, one of the world’s largest fast food chains, will temporarily close all of its US offices this week as it prepares to inform its employees of a new round of layoffs, Wall Street Journal reported today.
The company sent an email to its US employees last week to start working from home Monday through Wednesday. The report stated that McDonald’s made the decision so that it could deliver news of the layoffs virtually. It is not clear how many employees will be fired.
“During the week of April 3, we will be informing key decisions related to roles and staffing levels across the organisation,” McDonald’s reportedly wrote in the mail.
Staff were also asked to cancel all in-person meetings scheduled for this week.
The fast-food chain said in January it would review corporate employment levels as part of an updated business strategy, which could lead to layoffs in some areas and expansion in others.
The layoffs are expected to be announced by Wednesday.
Job cuts are mounting as companies grapple with the global economic slowdown and soaring inflation. Several tech giants — including Google, Amazon, and Facebook — have significantly scaled back their operations recently.
Indians are among those hit hardest by mass layoffs at US tech companies. Hundreds of workers, living in the US on temporary visas, were left unemployed with little time to find new visas.
H-1B visa holders who become unemployed can only legally stay in the United States for 60 days without finding new employers to sponsor them.
More Stories
JPMorgan expects the Fed to cut its benchmark interest rate by 100 basis points this year
Shares of AI chip giant Nvidia fall despite record $30 billion in sales
Nasdaq falls as investors await Nvidia earnings