One of the oldest fast food chains in the USA, McDonald's is set to temporarily close all its offices in the US this week as it prepares to inform its corporate employees about a fresh round of layoffs, according to media reports.
It is unclear how many employees will be fired. The company reportedly sent a mail to its US employees last week to start working from home from Monday to Wednesday. McDonald's took the decision so that it can deliver news about the layoffs virtually.
Employees have also been asked to cancel all in-person meetings scheduled this week.
One of the world's largest fast-food chains said in January that it would review corporate staffing levels as part of an updated business strategy, which could lead to layoffs in some areas and expansion in others. The layoffs are expected to be announced by Wednesday.
Job cuts are are on the rise as companies try to counter a global economic slowdown and soaring inflation. Several tech giants – including Google, Amazon, and Facebook – have drastically scaled down their operations recently.
Indians are among those who have been hit the hardest by the mass layoffs in US tech companies. Hundreds of workers, living in the US on temporary visas, have been left jobless with very little time to find a new one. H-1B visa holders who become unemployed can remain in the US legally for only 60 days without finding new employers to sponsor them.