According to a report by the Wall Street Journal, McDonald’s is set to announce layoffs and has temporarily closed its U.S. offices in preparation for the announcement. The company informed its U.S. and some international employees last week via email to work from home this week as it plans to communicate its staffing decisions virtually. The company stated that it will communicate key decisions regarding roles and staffing levels across the organization during the week of April 3.

The company did not comment on the number of employees to be laid off. As of the end of 2022, McDonald’s had over 150,000 company employees worldwide, with 70% of them outside the U.S. In the fourth quarter of 2022, the company’s comparable sales rose 12.6%, with 10.3% growth in the U.S. McDonald’s President and CEO, Chris Kempczinski, had earlier reported that the company expected short-term inflationary pressures to continue in 2023. Globally, McDonald’s employs more than 2 million people in its franchised restaurants.