Burger giant closes US offices in prep for layoff announcement

Published

2 years ago

April 3, 2023

admin

close video AI could replace 300M jobs worldwide: Goldman Sachs report

FOX Business’ Lydia Hu reports on workforce worries growing as more office tasks can be performed through artificial intelligence and automation.

McDonald's Corp is temporarily closing its U.S. offices this week as it prepares to inform corporate employees about layoffs undertaken by the fast food giant as part of a broader company restructuring, the Wall Street Journal reported.

McDonald's said in an internal email last week to U.S. employees and some international staff that they should work from home from Monday through Wednesday, so it can deliver staffing decisions virtually, the report said.

Signage outside a McDonald’s Corp. fast food restaurant in Louisville, Kentucky, U.S., on Friday, Oct. 22, 2021. (Luke Sharrett/Bloomberg via Getty Images / Getty Images)

"During the week of April 3, we will communicate key decisions related to roles and staffing levels across the organization," the company said in the message viewed by The Wall Street Journal.

“During the week of April 3, we will communicate key decisions related to roles and staffing levels across the organization,” – – McDonald’s internal email to employees

The burger corporation did not disclose how many employees it is planning to lay off during the company's restructuring.

MCDONALD'S SHARES HIT ALL-TIME HIGH

In January, CEO Chris Kempczinski warned employees that "difficult discussions and decisions" are on the horizon.

Kempczinski made the revelation in a message to global employees announcing the company's updated business strategy, Accelerating the Arches 2.0, which includes a reshuffling and possibly cutting positions as a way for the company to become more efficient and innovative and to trim costs.

Chris Kempczinski, here in 2017 at the McDonald’s corporate restaurant at what was then the Oak Brook, Illinois, headquarters. (Nuccio DiNuzzo/Chicago Tribune/Tribune News Service via Getty Images / Getty Images)

McDonald’s Crispy Chicken Sandwiches and fries are pictured in New York, U.S. March 30, 2021. Picture taken March 30, 2021. (Reuters/Hilary Russ / Reuters Photos)

"[W]e will evaluate roles and staffing levels in parts of the organization and there will be difficult discussions and decisions ahead," the CEO wrote, adding that the company plans to inform impacted workers by April 3.

MCDONALD'S UNVEILS FIRST AUTOMATED LOCATIONS, SOCIAL MEDIA WORRIED IT WILL CUT 'MILLIONS' OF JOBS

"Some jobs that are existing today are either going to get moved or those jobs may go away," Kempczinski told the Wall Street Journal in a January.

He told the outlet that he does not currently have a set dollar amount he aims to save or a number for how many positions might be cut.

The logo of the fast food company McDonald’s is seen on top of a restaurant entrance with people sitting in an outside terrace. (Davide Bonaldo/SOPA Images/LightRocket via Getty Images / Getty Images)

As part of its updated plans, McDonald's will also accelerate the pace of its restaurant openings, and said it may test more new concepts aimed at convenience for customers like the Order Ahead Lane offered at a recently-opened Forth Worth, Texas, location.

PEPSI UNVEILS NEW LOOK FIRST REFRESH IN 14 YEARS

On Thursday, March 30, McDonald's shares closed on a record high.

David Zanoni, financial author and Seeking Alpha contributor said the fast-food chain’s $277.79 closing price on Thursday was a result of analyst upgrades of earnings per share over the last three months from $10.49 to $10.58 in 2023 and from $11.44 to $11.70 in 2024.

This photo shows the sign outside a McDonald’s restaurant. (AP Photo/Gene J. Puskar, File / AP Newsroom)

The fast-food chain had just over 40,000 restaurants globally at the end of 2021, according to its most recent annual report, with more than 13,000 U.S. locations.

GET FOX BUSINESS ON THE GO BY CLICKING HERE

McDonald's did not immediately respond to Fox News Digital's request for a comment.

Fox Business' Breck Dumas contributed to this report.

Sports

Braves activate RHP Anderson, sign OF Rosario

Published

3 hours ago

April 28, 2025

admin

Braves activate RHP Anderson, sign OF Rosario

Field Level Media

Apr 28, 2025, 01:52 PM ET

It was old faces in familiar places for the Atlanta Braves on Monday after they activated right-hander Ian Anderson to the active roster and signed outfielder Eddie Rosario to a major league contract.

In corresponding moves, outfielder Jarred Kelenic was optioned to Triple-A Gwinnett, while right-hander Davis Daniel was optioned to Triple-A after Sunday’s game.

Both Anderson and Rosario emerged as 2021 postseason heroes in Atlanta as the Braves went on to win the World Series.

Anderson, who was claimed off waivers from the Los Angeles Angels on Sunday, went 4-0 with a 1.26 ERA in eight postseason starts for the Braves over the 2020 and 2021 postseasons.

In the 2021 World Series, Anderson famously pitched five no-hit innings in Game 3 to lead Atlanta to a 2-0 victory over the Houston Astros. The Braves defeated the Astros in six games.

Anderson, who turns 27 Friday, was traded by the Braves to the Angels on March 23 for left-hander Jose Suarez. He struggled badly with his new club, going 0-1 with an 11.57 ERA in seven relief appearances. He allowed 17 hits and seven walks in just 9⅓ innings.

Rosario, 33, signed with the Los Angeles Dodgers in February and played in two games with the club, going 1-for-4. He was designated for assignment and became a free agent when Shohei Ohtani returned from the paternity list just over a week ago.

Rosario was the 2021 National League Championship Series MVP, when he powered the Braves past the Dodgers with three home runs, nine RBIs and a 1.647 OPS in six games.

Over parts of 11 seasons, Rosario is a career .261 hitter with 169 home runs and 583 RBIs in 1,123 games with five different clubs, including five seasons with the Minnesota Twins (2015-20) and four with the Braves (2021-24).

Kelenic, 25, was batting .167 with two home runs in 23 games and is a career .211 hitter with 49 home runs and 156 RBIs in 406 games with the Seattle Mariners (2021-23) and Braves.

Daniel, 27, made his only appearance for the Braves on Sunday with a scoreless inning and has appeared in 10 games (six starts) over the past three seasons with a 4.95 ERA.

Technology

Spotify paid over $100 million to podcasts in the first quarter, including Joe Rogan, Alex Cooper and Theo Von

Published

3 hours ago

April 28, 2025

admin

Spotify paid over 0 million to podcasts in the first quarter, including Joe Rogan, Alex Cooper and Theo Von

Pavlo Gonchar | Lightrocket | Getty Images

Spotify said Monday it paid more than $100 million to podcast publishers and podcasters worldwide in the first quarter of 2025.

The figure includes all creators on the platform across all formats and agreements, including the platform’s biggest fish, Joe Rogan, Alex Cooper and Theo Von, the company said.

Rogan, host of “The Joe Rogan Experience,” Cooper of “Call Her Daddy” and “This Past Weekend w/ Theo Von” were among the top podcasts on Spotify globally in 2024.

Rogan and Cooper’s exclusivity deals with Spotify have ended, and while Rogan signed a new Spotify deal last year worth up to $250 million, including revenue sharing and the ability to post on YouTube, Cooper inked a SiriusXM deal in August.

BYD now has the world’s largest car transport ship and it just set sail overseas

Published

3 hours ago

April 28, 2025

admin

BYD now has the world's largest car transport ship and it just set sail overseas

The BYD “Shenzhen” set sail on its first voyage overseas this week. With 9,200 parking spots, or about enough to fill 20 football fields, BYD’s new car transport ship is now the world’s largest.

BYD’s largest car carrier sets sail for Brazil

BYD’s Shenzhen is on its maiden voyage to Brazil after setting sail on April 27. The vessel is carrying over 7,000 new energy vehicles (NEVs), including electric vehicles (EVs) and plug-in hybrid electric vehicles (PHEVs). It’s the largest single batch of NEVs exported from China so far.

The new vessel is BYD’s fourth car transport ship and the world’s largest, capable of carrying 9,000 vehicles. According to the company, that’s enough to fill about 20 football fields.

BYD launched its first car carrier, the Explorer No 1, in January 2024. It has already completed several trips to Germany, Spain, and Brazil.

Advertisement – scroll for more content

Its second, the BYD Changzhou, set sail in December 2024, followed by the Hefei earlier this year. All three vessels can carry up to 7,000 vehicles, making the Shenzhen the largest so far.

The Shenzhen is named after the automaker’s hometown and demonstrates “BYD’s firm determination to promote sustainable development in Brazil.”

BYD is preparing to launch two more vessels, the Changsha and Xi’an. The Changsha is expected to launch soon, while the Xi’an was introduced on April 2.

The new car carriers will help accelerate BYD’s aggressive overseas expansion. In the first three months of 2025, the company sold over 206,000 NEVs overseas, more than double the number it sold last year.

BYD sells a wide range of vehicles in Brazil, including the low-cost Dolphin Mini, starting at around $20,000 (99,800 BRL). In October, it launched its first hybrid pickup truck, the Shark, starting at 379,800 BTL ($66,900).

Brazil is only one overseas market that BYD is targeting. BYD’s sales are expected to double in Europe in 2025, with significant growth in other key regions like Southeast Asia, Japan, Mexico, and South Korea, to name a few.

Source: BYD

FTC: We use income earning auto affiliate links. More.