The fast food chain McDonald’s is actually closing down 350 of its restaurants.
If you thought that the most popular fast food chain on the planet was immortal and was going to stay on top forever, you were wrong. The franchise is closing down hundreds of restaurants. Is this really possible? Yes, it is and it’s actually happening.
McDonald’s was founded in California in the distant 1940. Nowadays the fast food mogul has more than 35,000 restaurants all across 119 countries globally. Throughout the years the chain has tried to bring down the competition by introducing various items in their menu – drinks, burgers, desserts, fries. There are numerous products, which McDonald’s unsuccessfully tried to sell to its customers – such as the McDonald’s pizza, which went off the market in no time. And now, just like its pizza, the company is about to pull the plug on 350 of its own restaurants.
That’s right, McDonald’s isn’t eternal. It might be the top fast food chain on the planet, but it doesn’t mean that it hasn’t been suffering from low sales recently. In fact, the dropping of up to 8.3% in recent sales has made the board decide to close down hundreds of restaurants in Japan and China. 130 McDonald’s restaurants in Japan and a total of 220 ones in China have been marked and are about to be closed. The company’s CEO, Steve Easterbrook, stated that even though McDonald’s is “the world’s leading (fast food) restaurant company”, they have to improve their performance and their service, which apparently means closing down restaurants and making the rest of the staff work faster.
Back in 2012 McDonald’s had revenue of $27.5 billion and nearly 1.9 million employees worldwide. It’s actually the second largest private employer in the world. Walmart takes the first place.