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, citing people familiar with the matter.
Lay Offs In The "Hundreds"
Reuters last week reported that the number of corporate employees the company was planning to lay off last week would tally in the "hundreds."
A Chance To Remain With Reductions In Compensation Packages
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.
Affecting Employees In The United States And Abroad
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.
Declined To Comment
McDonald's declined to comment on the report.
Reviewing Corporate Staffing Levels
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.
McDonald's To Lay Off Hundreds Of Corporate Employees - Source
As mentioned above, last week, Reuters reported that the number of corporate employees McDonald's Corp planned to lay off last week would tally in the "hundreds," a source familiar with the burger chain's thinking said on Monday 3 April, as the company moves forward with a previously announced restructuring.
Read More: McDonald's To Lay Off Hundreds Of Corporate Employees - Source
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