Tuesday 4 April 2023

Now It’s McDonald’s: All U.S. Offices Temporarily Closed, Prepares For Layoffs

 McDonald’s is closing its U.S. offices in a move to prepare some of its 150,000 employees worldwide they will lay off.

Last week, the corporation informed U.S. employees to stay home Monday through Wednesday as staffing decisions could be delivered virtually, while canceling in-person meetings with vendors at its headquarters.

“During the week of April 3, we will communicate key decisions related to roles and staffing levels across the organization,” the company said, according to The Wall Street Journal.

“Some jobs that are existing today are either going to get moved or those jobs may go away,” McDonald’s Chief Executive Chris Kempczinski admitted in January,

In March, Amazon eliminated 9,000 jobs.

The tech industry has been decimated by layoff ins 2023; by the beginning of April, 121,205 had been laid off, according to information from Layoffs.fyi.

On March 31, Netflix confirmed a handful of layoffs; Roku announced the day before it was laying off 200 employees after laying off 200 in November; Unacademy announced the same day that it had laid off 12% of its workforce after laying off 350 employees in November; Lucid announced on March 28 it was laying off 1,300 employees; on March 14 Meta CEO Mark Zuckerberg announced 10,000 people would be laid off, and Disney revealed in February layoffs that would total 7,000 employees.

“Despite the rhetoric you hear from Joe Biden, the economy is softening, and somebody’s gonna have to tell him: When you live by the sword, you’re gonna die by the sword,” Strategic Wealth Partners CEO and president Mark Tepper said in late January.  “And it just seems like they’re too busy popping champagne bottles, trying to celebrate the fact that yes, we’re past peak inflation but that core PCE number is still 4.4%, which is still double the mandate, and the sticky components of inflation, wages, rent, food, that’s all still running sky-high.”

The PCE price index reflects changes in the prices of goods and services purchased by consumers in the United States. It measures the prices Americans pay for goods and services. The PCE price index increased another 0.3 percent in February.

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