The fast food chain stated that the downsizing was not a cost-cutting measure, but was intended to promote faster innovation and more efficient work for the company. As part of the reorganization, the company will discontinue — according to Kempczinski’s company-wide memorandum — certain business procedures. wrote a CNBC.
McDonald’s said Friday that it is speeding up the number of new restaurants plans for its development.
We need to accelerate the pace of opening our restaurants to take full advantage of the increased demand in recent years
Kempinski wrote in the note.
McDonald’s has not previously released predictions as to whether How many new restaurants do you plan to open? in 2023, but the company said in November that the new units would contribute about 1.5 percent to network traffic growth in 2022.
The company has not yet decided how many new restaurants it will open or how many jobs it will cut as part of the restructuring. Kempzinski said the company will wind up and begin notifying layoffs by April 3.
Kempzinski also announced some internal promotions, effective February 1, that will help the company implement its new strategy. Global Marketing President Morgan Flatley will also oversee the new projects.
McDonald’s shares closed down more than 2 percent on Friday. The company is expected to report fourth-quarter results on January 31.
