Industry News | October 15, 2002

Layoffs May Be Forthcoming At McDonald's

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Dow Jones is reporting rumors of possible layoffs looming at McDonald’s Corp. in the near future. The rumors have been coming from within corporate headquarters over the last few days according to franchisees and suppliers.

McDonald’s is making moves to strengthen is financial position and may be considering the layoffs as a cost-cutting measure. The first layoff in the company’s history at corporate offices was in 1998. Just last year, McDonald’s laid off 700 in only their second round of layoffs in history as part of a restructuring of U.S. operations.

The company is avoiding talking about possible layoffs saying, "It is inappropriate to give credence to speculation and rumoring. McDonald's management team is focused on increasing sales, growing our business and building shareholder value."

News and information presented in this release has not been corroborated by QSR, Food News Media, or Journalistic, Inc.