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Offbeat McDonald's plans to lay off workers as it streamlines management

20:50  07 june  2018
20:50  07 june  2018 Source:   cnbc.com

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Wal-Mart to Lay Off 3,500 Co- Managers as It Plans to Streamline Promotions. As Wal-Mart restructures management as well as institutes mass closings of its other brand, thousands of workers will soon be looking for new employment.

McDonald ' s has been reducing costs and streamlining the business as it tries to cope with the The cost reduction is part of the company' s plan to make McDonald ' s more nimble in a very competitive market. Several of the workers there were offered different positions within McDonald ' s .

McDonald's is slimming down its corporate structure and laying off workers in an effort to reduce expenses by $500 million by the end of 2019.

In an email to all U.S. employees, suppliers and franchisees, McDonald's President Chris Kempczinski said that the Golden Arches would be restructuring its regional offices around the country, The Wall Street Journal reported Thursday.

"I recognize that change is difficult, and that eliminating layers within our organization means some employees will ultimately exit our system," Kempczinski said in the memo, according to The Wall Street Journal.

Kempczinski did not elaborate on the number of positions that would be reduced, but said that the company would provide more details during its town hall meeting on June 12.

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Southern California Edison Co. plans to lay off hundreds of employees as part of a management streamlining and outsourcing of some functions such as information technology. The number of workers affected by the cuts will be "in the high hundreds," said Sen.

Lousy management . I know working at McDonald ’ s is a mixed bag, but my experience Project Atlas - Streamline McDonald ' s globally? Outsourcing, layoffs , and moving corporate to Chicago is 17 folks were laid off in McDonalds legal department. The Legal Worker 's Comp team was eliminated

"We are always evaluating ways to better serve our customers and continue to grow our business," Terri Hickey, a spokeswoman for McDonald's, told CNBC via email. "With that in mind, we are putting into place a new U.S. field structure that will better support our franchisees and will ensure McDonald's continues on a path to being more dynamic, nimble and competitive."

"These planned actions are consistent with our previously announced $500 million G&A targeted savings, which we expect to achieve by the end of 2019," she said.

The news come just days after McDonald's opened its new headquarters in Chicago.

Shares of the company were up more than 2 percent on Thursday.

Read the full report from The Wall Street Journal.

Trump intends to nominate Kathy Kraninger to lead Consumer Financial Protection Bureau .
President Donald Trump plans to nominate Office of Management and Budget official Kathy Kraninger to head the Consumer Financial Protection Bureau, the White House announced Saturday. "The President intends to nominate Kathy Kraninger to be the next Director of the Bureau of Consumer Financial Protection," White House deputy press secretary Lindsay Walters said in a statement. If confirmed, Kraninger will replace Mick Mulvaney, who has been filling the job temporarily. Kraninger, who currently works under Mulvaney, is expected to face a tough Senate confirmation battle.

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