As part of its continued efforts to streamline operations and cut costs, McDonald’s is offering voluntary buyouts to “several hundred” corporate employees, Crain’s Chicago Business reports.
The buyouts, which would begin in July, are being extended to staff at the director echelon or higher.
A McDonald’s spokesperson would not confirm news of the offers, says Crain's, which learned details of the buyouts from two unnamed sources.
McDonald’s last year announced a plan to cut its administrative costs by about $500 million per year, a cornerstone of which involved cutting and restructuring management staff.
The chain cut 225 corporate positions in August—including 135 at its U.S. headquarters—and last year downsized its domestic system by 59 units.
Reports have also been swirling that McDonald’s will move its U.S. headquarters from suburban Oak Brook, Ill., to a campus in downtown Chicago, a move that could be aided by a slimmed-down staff.
Following its sales slump in recent years, McDonald’s well-publicized turnaround efforts have been rewarded with notable sales growth.
Read the full story via Crain’s Chicago Business.
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