McDonald’s CEO announces new plan focused on consumer needs as the company shutters a number of locations.
McDonald’s announced plans to close some 350 restaurants in the U.S., while adding only 300 restaurants worldwide, marking the first time since 1970 that the quick-serve restaurant giant is adding fewer stores than it closed, according to a report by ABC News.
The move comes following a decrease in sales that is being attributed to slow adaptation to change in consumer preference, as well as some marketing issues. McDonald’s new CEO, Matt Easterbrook, announced a plan that should help the company turnaround and sales to increase. This plan includes changes in leadership, focusing more on consumer needs, and closing the doors of under-performing restaurants in the U.S..
It is expected that this decrease in stores will help the company to re-focus on the customer, focus on the turnaround strategies, and cost reduction efforts.