McDonald's to begin layoffs this year confirms CEO: Reports

Fast Food giant McDonald's has announced staff reductions in April this year, according to a report by Wall Street Journal.

In an internal memo to employees on 6 January, McDonald's CEO Chris Kempczinski said they are planning to cut some corporate workforce to reduce costs and free up resources to invest in growth.

"Certain initiatives will be de-prioritised or stopped altogether. This will help us move faster as an organisation while reducing our global costs and freeing up resources to invest in our growth," he said in the memo.

However, the CEO claimed in the memo that these layoffs were necessary to "innovate faster and work more efficiently" rather than to reduce costs.

McDonald's plans to communicate its decision around layoffs by April 3.

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