Burger chain McDonald’s said on Friday it will review staffing levels on the corporation and seek to build more restaurants as part of an updated business strategy.
The brand new plan, announced in a letter from CEO Chris Kempczinski to employees all over the world and seen by Reuters, calls for the Chicago-based company to cancel or “deprioritize” some initiatives while accelerating development.
That may lead to layoffs in some areas and expansion in others, the corporate said.
“We can be our strategy and our values to guide how we make these decisions and support every member of the corporate affected,” the letter said, adding that McDonald’s would begin announcing key decisions by April 3.
McDonald’s beat its sales and profit forecasts in its most up-to-date quarterly financial leads to October, thanks to higher menu prices and increased traffic from inflation-weary customers searching for value meals. Global same-store sales rose 9.5% within the third quarter.
Like other fast food chains, McDonald’s has increased menu prices to sustain with the rising cost of goods and labor.
McDonald’s strong sales and profits also mean that – like several other restaurant chains, including Starbucks and Chipotle Mexican Grill – it could possibly embark on major expansion plans. McDonald’s didn’t provide figures on what number of latest stores the corporate wants to build.
Now it also plans to streamline technology – including loyalty programs – and menu development to bring latest products to market faster all over the world.
Kempczinski also promoted several directors and created the brand new role of Director of Transformation, his letter reads.