A report says McDonald's has closed its U.S. offices for a few days as the company prepares to inform corporate employees about layoffs.
There have been cuts in other sectors as well.
Policymakers at the Federal Reserve have forecast the unemployment rate may rise to 4.6% by the end of this year, a sizable increase historically associated with recessions. The company reported its global sales rose nearly 11% in 2022, while sales in the U.S. climbed almost 6%. Total restaurant margins rose 5%. In its latest annual report, it cited difficulties in adequately staffing some of its outlets.
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