McDonald's Corp. has restructured its workforce, resulting in some employees having their compensation and titles reduced, according to an anonymous source familiar with the matter. The Chicago-based fast-food giant provided certain workers with the option to stay with the company, but with changes to their compensation, including bonuses and equity awards.
The restructuring involved career conversations with all corporate employees, including those who were laid off, and resulted in hundreds of job losses. In January, McDonald's announced that it planned to cut corporate jobs and eliminate certain initiatives, but continue opening new stores. The company had about 150,000 employees at the end of 2022.