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| McDonald's sales have plummeted, and the American fast food giant has had to close many stores. |
Fast-food giant McDonald's Corp. is cutting pay packages for some employees as part of a restructuring that includes layoffs and closing some offices, the Wall Street Journal reported on April 7.
Previously, Reuters said that the number of employees that McDonald's planned to lay off this week would reach "hundreds".
The fast-food chain has offered some employees the chance to stay on the condition that their total pay packages be cut, including changes in job titles and perks such as bonuses and equity grants.
The layoffs and restructuring at McDonald's are said to be affecting many of its employees in the US and abroad, including at its Chicago headquarters and McDonald's regional offices, including marketing and operations.
McDonald's declined to comment. The company, which has more than 150,000 employees in offices around the world, said earlier this year it was reviewing its staffing levels and announced plans to cancel or "de-prioritize" some operational initiatives.
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