McDonald's , Closes Offices , Ahead of US Layoffs.
'Time' reports that McDonald's will temporarily shut
down all of the company's offices in the United
States this week ahead of announced layoffs.
'Time' reports that McDonald's will temporarily shut
down all of the company's offices in the United
States this week ahead of announced layoffs.
According to an email sent to employees, staff have
been asked to work from home from April 3 to
April 5 so that layoffs could be communicated virtually.
.
According to an email sent to employees, staff have
been asked to work from home from April 3 to
April 5 so that layoffs could be communicated virtually.
.
Some jobs that are existing
today are either going to get
moved or those jobs may go away, Chris Kempczinski, McDonald's Chief Executive Officer, via 'Time'.
'Time' reports that McDonald's employs
about 45,000 people in the U.S., including
both its corporate offices and stores.
'Time' reports that McDonald's employs
about 45,000 people in the U.S., including
both its corporate offices and stores.
The layoffs come following a wave
of cuts across multiple industries amid
fears that the economy is dwindling.
With the war in Ukraine and
all the world in, or entering into
recession, their companies are
trenching as demand is falling,
belt tightening is going on, John Van Reenen, Ronald Coase School Professor at the London School of Economics, via 'Time'.
With the war in Ukraine and
all the world in, or entering into
recession, their companies are
trenching as demand is falling,
belt tightening is going on, John Van Reenen, Ronald Coase School Professor at the London School of Economics, via 'Time'.
One part of this is just a general
reflection of what’s happening in the
economic situation around the world, John Van Reenen, Ronald Coase School Professor at the London School of Economics, via 'Time'.
'Time' reports that while McDonald's reported
increases in the company's quarterly sales, the
rising cost of food has impacted profit margins.
'Time' reports that while McDonald's reported
increases in the company's quarterly sales, the
rising cost of food has impacted profit margins.
According to the latest consumer price index,
the price of food is up 6% from last February,
and expected to climb beyond historical rates.
According to the latest consumer price index,
the price of food is up 6% from last February,
and expected to climb beyond historical rates.
'The Wall Street Journal' reports that McDonald's CEO
Chris Kempczinskiv expressed aims to broadly reduce
operation costs while boosting profits with new stores.
'The Wall Street Journal' reports that McDonald's CEO
Chris Kempczinskiv expressed aims to broadly reduce
operation costs while boosting profits with new stores
McDonald's Posts , Disappointing Q1 Results , Amid Ongoing Boycotts.
'The Independent' reports that McDonald's posted weaker-
than-expected results in the first quarter of 2024, as a result
of a boycott over the company's perceived support for Israel. .
'The Independent' reports that McDonald's posted weaker-
than-expected results in the first quarter of 2024, as a result
of a boycott over the company's perceived support for Israel. .
According to McDonald's, higher sales in the
United States helped the fast-food giant overcome
weakness in markets where the brand is being boycotted.
According to McDonald's, higher sales in the
United States helped the fast-food giant overcome
weakness in markets where the brand is being boycotted.
The company saw same-store sales rise by
1.9% worldwide between January and March,
below the Wall Street forecast of 2.1%.
Increased menu pricing and delivery demand
saw same-store sales in the U.S. increase by 2.5%.
In international markets, sales fell
by 0.2% for the first time since 2020.
Despite this, McDonald's said the company's revenue
increased 5% to reach $6.17 billion, while net income went
up 7% to $1.93 billion, in-line with Wall Street estimates.
'The Independent' reports that Muslim-majority
markets like Indonesia, Malaysia and the Middle East
have been boycotting McDonald's for months.
The boycotts started after a McDonald's franchise in
Israel announced in October that it would provide free
meals for Israeli troops amid the ongoing war in Gaza.
In the months since then, the company has tried to limit
the fallout by taking over all 225 McDonald's in the country
with the purchase of Alyonal Limited, its Israeli franchise.
Our hearts remain with
the communities and families
impacted by the war in the Middle East.
We abhor violence of any kind and
firmly stand against hate speech,
and we will always proudly
open our doors to everyone, McDonald's statement, via 'The Indepndent'.
Our hearts remain with
the communities and families
impacted by the war in the Middle East.
We abhor violence of any kind and
firmly stand against hate speech,
and we will always proudly
open our doors to everyone, McDonald's statement, via 'The Indepndent'
Credit: Wibbitz Top Stories Duration: 01:30Published
Fast Food Chains Warn Consumers , That Worker Pay Increases
Will Impact Prices.
'Newsweek' reports that franchises have
warned an increase of the minimum wage
for fast food workers in California could also
force menu prices to climb.
As of April 1, fast food restaurants in California
will have to pay employees at least $20 an hour, an
increase of four dollars from the current $16 an hour. .
Business owners have warned that the new law,
signed in by Democratic governor Gavin Newsom,
will have an impact on margins and consumer costs. .
At the end of October, McDonald's CEO Chris Kempczinski
said that the impact of the minimum wage rise would
be partially "worked through with higher pricing.".
At the end of October, McDonald's CEO Chris Kempczinski
said that the impact of the minimum wage rise would
be partially "worked through with higher pricing.".
According to McDonald's numbers, the price of
the signature Big Mac burger is currently $5.89
in California, the 10th highest in the United States.
The latest data compiled by 'The Economist' shows that
the average price of a Big Mac nationwide is currently
$5.69, which is up from $5.36 at the same time in 2023. .
Last year, McDonald's , reported net profits of , almost $8.5 billion.
According to the company's latest financial reports,
sales increased 8.7% in the U.S. in 2023, which the
company attributed to "strategic menu price increases.".
According to the company's latest financial reports,
sales increased 8.7% in the U.S. in 2023, which the
company attributed to "strategic menu price increases.".
Meanwhile, Jack Hartnung, the CFO of fast food
chain Chipotle, told investors that the wage
increase would impact consumer prices with a
"mid-to-high single digit" percentage increase.
Meanwhile, Jack Hartnung, the CFO of fast food
chain Chipotle, told investors that the wage
increase would impact consumer prices with a
"mid-to-high single digit" percentage increase.
In December, Pizza Hut cited the wage
increase as the reason behind laying off
the company's in-house delivery drivers. .
In December, Pizza Hut cited the wage
increase as the reason behind laying off
the company's in-house delivery drivers.
Credit: Wibbitz Top Stories Duration: 01:31Published
Krispy Kreme to Be Sold , at McDonald’s Nationwide.
Krispy Kreme to Be Sold , at McDonald’s Nationwide.
Both food chains made the announcement
on March 26, CNBC reports. .
The rollout will start later this year but will take until the end of 2026 to reach McDonald's nationwide. .
That's because Krispy Kreme will have
to "more than double its distribution"
to meet demand, CNBC reports. .
We think we can service about
6,000 restaurants with our existing
infrastructure, mostly doughnut
shops, which have excess capacity, Krispy Kreme CEO Josh Charlesworth, to CNBC.
Shares of Krispy Kreme jumped 22%
following the announcement.
Krispy Kreme is also expanding distribution
to grocery and convenience stores.
That means that the overall efficiency
and productivity of our distribution network will significantly improve over time, not just
because of all those local deliveries. , Krispy Kreme CEO Josh Charlesworth, to CNBC.
Currently, Krispy Kreme typically makes more doughnuts than it can sell, so churning out even more product will take few additional costs. .
Currently, Krispy Kreme typically makes more doughnuts than it can sell, so churning out even more product will take few additional costs. .
Overall, therefore, it makes our system
more profitable to grow the deliver
fresh daily channel, and McDonald’s
is an accelerator of that, Krispy Kreme CEO Josh Charlesworth, to CNBC.
Overall, therefore, it makes our system
more profitable to grow the deliver
fresh daily channel, and McDonald’s
is an accelerator of that, Krispy Kreme CEO Josh Charlesworth, to CNBC
Credit: Wibbitz Top Stories Duration: 01:31Published
McDonald’s Suffers , Global Tech Outage.
On March 15, McDonald's stores around the world
either shut down or paused online ordering due
to a technology outage, NBC News reports.
Locations that reported the most disruptions include Australia, China, Britain and Japan,
as well as other areas in Asia and Europe.
Many stores across the country have
temporarily suspended operations. We
apologize for any inconvenience caused to our
customers. There is currently a system failure, McDonald's Japan, via X.
Due to a computer system failure,
the mobile ordering and self-ordering
kiosks are not functioning. , McDonald's China, via Facebook.
Please order directly at the
restaurant counter. Sorry for
any inconvenience caused, McDonald's China, via Facebook.
At around 4 p.m. local time, the
'South China Morning Post' reported
that the problem had been fixed.
The McDonald's Corporation
also issued a statement.
We are aware of a technology outage,
which impacted our restaurants;
the issue is now being resolved. , McDonald's Corporation spokesperson, via statement.
We thank customers for their patience
and apologize for any inconvenience
this may have caused, McDonald's Corporation spokesperson, via statement.
Notably, the issue is not related
to a cybersecurity event, McDonald's Corporation spokesperson, via statement
Credit: Wibbitz Top Stories Duration: 01:31Published
McDonald's experienced a global technology outage affecting operations in Japan, the UK, and Australia, disrupting in-person and mobile orders. The company ruled out a cybersecurity incident. Despite efforts to restore functionality, the exact extent of the disruption remains unclear. Similar incidents recently affected Meta-owned platforms. Customers in Asia faced difficulties with orders and kiosks
#MCdonalds #MCDonaldsBurger #MacBurger #GlobalTechOutage #cyberattack #Internetnews #Worldnews #Oneindia #Oneindianews
~PR.274~ED.194~HT.95~
Satyam Surana, an Indian student at the London School of Economics, faced targeted harassment during his student union election campaign, branded a 'fascist' due to alleged ties with the BJP. Despite initial support, a smear campaign led to his defeat. Reflecting on last year's incident at the Indian High Commission, he highlighted misinformation and the need for integrity in public discourse.
#SatyamSurana #LondonSchoolofEconomics #BJP #Fascist #LokSabha #IndiansinUK #IndiaUK #Indianews #IndiansinBritain #Worldnews #Oneindia #Oneindianews
~HT.99~PR.152~ED.103~
Military hardware, including tanks, captured by Russia in Ukraine, are on display in Victory Park for a month-long open-air exhibition leading up to the country’s Victory Day celebrations.
Credit: euronews (in English) Duration: 01:02Published
A missile assault by Russia on Ukraine's Black Sea port city of Odesa resulted in at least five deaths and over 30 injuries, including children and a pregnant woman. The attack devastated residential buildings and critical infrastructure, with Ukrainian authorities confirming the indiscriminate nature of the assault.
#Odesa #russiaukrainewar #russiaukrainewartoday #russiaukrainewarupdate #russiaukrainewarnews #russiaukrainewarlive #Worldnews #Oneindia #Oneindianews
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A Russian missile strike has claimed the lives of at least four individuals in the southern Ukrainian city of Odesa, targeting a Gothic-style building known locally as the "Harry Potter Castle''. Even as night fell, the distinctive turrets of the structure continued to burn, with emergency services assessing the blaze as severe. Reports indicate that residents were caught off guard, as air raid alerts sounded only minutes before the strike, leaving them with insufficient time to seek shelter.
#RussiaUkraineWar #OdesaAttack #MissileStrike #HarryPotterCastle #UkraineUnderAttack #WarCrimes #InternationalConflict #MilitaryEscalation #HumanitarianCrisis #GlobalSecurity
~HT.99~PR.152~ED.155~
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