Fast-food giant McDonald’s (MCD) is preparing to layoff corporate employees amid a broader company restructuring, according to multiple media reports.
McDonald’s has reportedly asked its corporate staff to work from home this week as it prepares to announce layoffs across the Chicago-based company.
The burger chain has also asked employees to cancel in-person meetings with vendors and other outside parties at its corporate headquarters in the coming days.
Exactly, how many people will be let go at McDonald’s is not clear.
While the company has not responded publicly to reports of a workforce reduction, McDonald’s did say in January of this year that it was reviewing corporate staffing levels as part of an updated business strategy.
McDonald’s stock is up 6% year-to-date and trading at $279.61 U.S. per share.
