McDonald's Trying To Slim Down Corporate Structure

Noon Business Hour
June 07, 2018 - 5:59 pm

CHICAGO (WBBM NEWSRADIO) -- McDonald's plans to cut an undisclosed number of corporate jobs as part of an effort to restructure its regional offices across the country. 

The fast-food giant was light on details surrounding the layoffs, but will provide further information at a June 12 meeting.

The goal of slimming down McDonald's corporate structure and reducing head count is all part of a previously announced $500 million expense-reduction plan.

"It's mostly at the top and it's a good move.  It is a move to make the company a little bit more, as they would call it, dynamic and nimble," said Hugh Johnson, chief investment officer at Hugh Johnson Advisors.

He adds that his firm owns McDonald's stock in its dividend portfolio and really likes the company's management team.

The news comes just days after the company unveiled its new gleaming corporate headquarters in Chicago's West Loop.  Shares of McDonald's closed up more than 4 percent on Thursday.