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McDonald’s to hire 260,000 people this summer

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Miguel A. Rodriguez
Miguel A. Rodriguez
14 September 2020
McDonald’s makes changes to accommodate its restaurants after the pandemic.

As the pandemic’s effects start to wear off, businesses resumed their activity. While some are firing people to cut costs, others hire to keep up with the demand. McDonald’s is part of the second group, as it plans to hire 260,000 people this summer in the States, as it forecasts an increase in business. The openings are a combination of full-time and part-time jobs.  

At the moment, in the States, 99% of restaurants are open, while worldwide 95% reopened to some capacity. Due to the pandemic, the US sales dropped by 19% during April compared to the same period last year. For May, the sales dropped only 5%. Breakfast sales were low, which affected the quarterly earnings that were due in May. Its rival, Wendy’s, on the other side, reported significant sales on its new breakfast menu. In July, it will re-add seven items.

Due to social distancing rules, social-distancing stickers will be put on the floor, tables will be blocked off, and the self-serve beverage bar will be closed. Employees must wash their hands hourly and wear protective equipment.  

McDonald’s stock lost 4% this year, while USA30 went down by 9%. 

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Sources: edition.cnn.com, cnbc.com, marketwatch.com

This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided. 

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Miguel A. Rodriguez
Miguel A. Rodriguez
Financial Writer

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.