In 2023, the fast-food company McDonald's (McD) plans to close 400 restaurants across various countries.
This is recorded in the *Projected New Restaurants Openings/Closings* report released by McD's management last month (February 24, 2023).
Despite the planned mass closures, McD also intends to open 1,900 new restaurants this year, both directly operated by the company and through franchising.
However, McD's management has not provided details on the locations of the restaurant closures and openings.
At the end of 2022, McD had approximately 40,300 restaurants in 115 countries, the majority of which are located in the United States (US).
Starting at the end of March 2023, McD temporarily closed its US offices and is reportedly planning layoffs as part of a company restructuring.
"On April 3, 2023, we will announce important decisions regarding roles and staffing levels across the organization," said McD's management, as reported by Reuters on Monday, April 3, 2023.
This layoff plan emerged after McD's profits fell at the end of last year. Throughout 2022, they recorded net income of approximately USD 6.2 billion, a decrease of 18% year-on-year (YoY).