McDonald's to Lay Off Employees Under Cost Reduction Plan

In an effort to restructure its U.S. business, McDonald's Corporation MCDis planning a fresh round of layoff. Per The Wall Street Journal, the company has conveyed this decision to its U.S. employees, suppliers and franchisees via an email. However, McDonald's has not disclosed the exact number of layoffs.

Following the news, the company’s shares increased 4.4% yesterday. In a year’s time, the stock has gained 11.9% compared with the industry’s 3.5% upside.