The fast food giant McDonald’s announced on August 15, 2018 that it would be closing over 200 restaurants worldwide. This follows a lengthy decline in revenue, with falling sales in all regions of the world.
The company has blamed the closures on the global economic recession, as well as changing consumer tastes.
McDonald’s is one of the most recognizable brands in the world, with over 30,000 restaurants in over 120 countries. The company has been in the fast food business for over 60 years, and has played a significant role in shaping the global food industry.
However, the global economy has changed over the past few years, and McDonald’s has been unable to keep up with the competition.
The closures will result in the loss of over 1,500 jobs, and will have a significant impact on the employees and their families. In a statement, McDonald’s CEO Steve Easterbrook said that the company was “working hard to provide support” to the employees affected by the closures.
The closures are a significant setback for McDonald’s, and the company will need to find a way to turnaround its fortunes if it wants to remain a global powerhouse. The closures may also have a significant impact on the global food industry, as the company was one of the leading players in the industry.
