June 22, 2016 7:43 pm | Updated 9 months ago.
McDonald to reduce cost
McDonald envisages on cutting down jobs as a part of their strategy to reduce cost by $500 million. The company is also thinking of outsourcing some of its work to India in an effort to cut cost. It has already closed down its regional office at Ohio in a move to permanently change the entire structure of the organization. It has also announced job cuts for a number of employees in this process.
Mc Donald’s growth has registered a downward trend and that has forced the company to close down regional offices across the country. Last year alone 400 employees were laid off as sales figures dropped.
According to industry expert, McDonald’s also plans to move its accounting functions and jobs related to the business area to an outsourcing partner in India. According to McDonald’s spokesperson, Terry Hickey, this process to restructure is in line with their efforts to add $500 in savings by the end of 2017.
Date of Publication: June 16, 2016