McDonald’s cuts pay packages for some employees – WSJ

(Adds McDonald’s response)

April 7 (Reuters) – McDonald’s Corp is cutting
pay packages for some employees as part of a restructuring that
includes layoffs and the shutting down of some offices, the Wall
Street Journal reported on Friday, citing people familiar with
the matter.

Reuters on Monday reported that the number of corporate
employees the company was planning to lay off this week will
tally in the “hundreds.”

The fast-food chain has offered some employees a chance to
remain at the company with reductions in their compensation
packages, including changes to titles and benefits such as
bonuses and equity grants, the WSJ report said.

Job cuts and changes at McDonald’s are affecting employees
in the United States and abroad, at the company’s Chicago
headquarters and in its field offices, and across departments
including marketing and operations, the report added.

McDonald’s declined to comment on the report.

The company, which has over 150,000 employees across
corporate and other offices as well as in company-owned and
operated restaurants, earlier this year said it was reviewing
corporate staffing levels while also announcing plans to cancel
or “de-prioritize” some initiatives.

(Reporting by Raghav Mahobe in Bengaluru; Editing by Mark
Porter and Chizu Nomiyama)
((Raghav.Mahobe@thomsonreuters.com;))

Keywords: MCDONALDS RESTRUCTURING/ (UPDATE 1)

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