McDonald’s has closed its U.S. offices until Wednesday and instructed its corporate employees to work remotely in preparation for a round of layoffs. The company stated in a memo that it wants to ensure the confidentiality and comfort of its staff during the notification period and will hold all notification meetings virtually. The layoffs are intended to make the company more efficient, and its memo suggests that its priority is to solve problems more effectively for customers and people while globally scaling its successful market innovations faster. Reports indicate that McDonald’s has over 150,000 employees in corporate roles and company-owned restaurants, with about 70% of those employees based outside the United States. The company’s revenue was flat at $23.2 billion for the full year of 2022, with its net income falling 18% partly due to the sale of its business in Russia. In January, the company warned its employees that layoffs were coming as it attempted to get more nimble and break down walls between its global markets.

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