McDonald's announced a new growth plan in January called “Accelerating the Arches 2.0.” The company said the plan will create new leadership roles, better solve customer problems, push innovation out and reduce work to create efficiencies. It will also speed up the rate at which it opens restaurants.
Executives said during its most recent earnings call that McDonald's expects to open 1,900 locations worldwide this year, more than 400 of which will be split between the U.S., Australia and a handful of European countries. It will mark the first time the hamburger chain has grown its U.S. store count since 2014.
The company also plans to deprioritize certain initiatives, which it has not specified. That will result in job cuts, which should be finalized by April 3.