Now It’s McDonald’s: All U.S. Offices Temporarily Closed, Prepares For Layoffs

In preparation for upcoming layoffs, McDonald’s has temporarily closed its US offices, affecting some of its 150,000 employees worldwide.

Last week, the fast food corporation instructed US employees to stay home for three days as decisions regarding company staffing levels were made virtually. In-person meetings with suppliers at its headquarters were also cancelled.

The Wall Street Journal reported that the company said it will make key decisions around staffing levels and roles throughout the organisation in the week beginning April 3.

McDonald’s CEO, Chris Kempczinski, admitted in January that some existing jobs would either be moved or eliminated completely.

It’s not just McDonald’s feeling the pinch. Amazon cut 9,000 jobs in March alone, and according to data from Layoffs.fyi, 121,205 layoffs have occurred in the tech industry since the start of 2023.

The trend of layoffs continues with other companies such as Netflix, Roku, Unacademy, and Lucid all announcing significant layoffs over the past month.

Strategic Wealth Partners CEO and President, Mark Tepper, expressed his concern in late January that the economy was softening, and that things were not going to plan under the Biden administration.

The Personal Consumption Expenditures (PCE) price index reflects changes in prices for goods and services bought by US consumers, and for February it increased by another 0.3 percent, which is double the mandate set by the government.