McDonald’s is expected to provide details about an upcoming business restructuring, according to a memo seen by the Wall Street Journal. The hope is that this shift will provide franchises with more resources from the company. All the same, layoffs and office closures are expected. In fact, the company expects to report a charge of $80 million to $90 million in the next quarter due to severance and other restructuring costs. It expects the restructuring to be finished by Q3.
This is all part of McDonald’s plan to flatten the org chart. The fast-food chain is trying to reduce the space between restaurants and company top brass. Because of this, many corporate positions are expected to be cut. McDonald’s has not disclosed how many jobs will be impacted by these changes.
You can read the full WSJ report here.