McDonald's on hiring spree? Burger chain to look for 375,000 US workers this summer
The Big Mac seller is gearing up to serve more customers as the weather warms up and the company expands, according to an announcement Monday. McDonald's said in 2023 that it would open 900 US locations over the following four years. The positions aren't intended to be seasonal or temporary.
Roughly 800,000 people work at McDonald's restaurants. About 95% of the chain's more than 13,500 US locations are franchised, meaning they're run independently by operators who hire their own staff and set wages.
The hiring announcement follows a disappointing first quarter for McDonald's, with executives pointing to consumer economic distress. Third-party data suggest that US trends have improved in April, thanks in part to the launch of a limited-time Minecraft meal.
McDonald's estimates that about one in eight Americans have worked for the chain. More than 90,000 have gone through the Archways to Opportunity program, which offers assistance with college tuition and other types of training, since it launched 10 years ago.
The chain made the hiring announcement in a press conference alongside US Labor Secretary Lori Chavez-DeRemer, who said McDonald's program aligns with President Donald Trump's goal to upskill workers. The president has a goal of having 1 million active apprentices, she said.
The US restaurant industry employs more than 12.3 million people, a figure that recently rebounded to pre-pandemic levels.
Disclaimer: This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.
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The Print
15 minutes ago
- The Print
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(Refiles to fix typo in paragraph 22) (Reuters) -Financial companies from Bank of America to Fiserv are preparing to launch their own dollar-backed crypto tokens now that a new U.S. law has established the first-ever rules for stablecoins, but experts warn the path forward could be anything but simple. U.S. President Donald Trump on July 18 signed the GENIUS Act into law, setting federal rules and guidelines for cryptocurrency tokens pegged to the U.S. dollar known as stablecoins. This U.S. law, the first designed to facilitate crypto usage, could pave the way for the digital assets to become an everyday way to make payments and move money, experts said. The use of stablecoins, designed to maintain a constant value, usually a 1:1 U.S. dollar peg, has exploded in recent years, notably among crypto traders moving funds to and from other tokens, such as bitcoin and ether. 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Banks holding assets like stablecoins on their balance sheets might be required to hold more capital under current U.S. bank rules. "The GENIUS Act is great, but if the bank is treating their stablecoin on the balance sheet under prudential banking regulation, you still need to look at the risk weight of the asset," she said. Another crucial question is how to issue stablecoins. Like other cryptocurrencies, stablecoins are created on a blockchain, a digital ledger that records transactions. Hundreds of blockchain networks exist today, two of the most popular being ethereum and solana. Both are considered public or "permissionless" blockchains because all transactions on those networks are available for anyone to see. Still, it is unclear which attribute companies issuing stablecoins would prioritize. Banks, in particular, could opt for their own private, or "permissioned," blockchains instead, Demidova said. 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Under the new U.S. framework, the Treasury Department will have to issue a rule on foreign stablecoin regulatory regimes and their compatibility with the new U.S. framework. "These things are going to have to phase in," said Aschettino.
