McDonald's axes hundreds of corporate jobs

McDonald’s announced Thursday it had cut 135 employees in July at its U.S. headquarters as the restaurant chain fights to reverse a long sales slump.

The fast-food giant also announced its plans to trim 90 corporate overseas jobs as it removes “organizational layers” in Europe and Asia.

McDonald’s job cuts to revitalize flagging business

As outlined by ValueWalk last May, McDonald’s unveiled the outline of its new global turnaround strategy, admitting that its business model had aged and that the firm was in urgent need of change. In a video message posted on its website, Chief Executive Steve Easterbrook said: “No business...