Impact of McDonald’s Unit Closures and Leadership Changes in the Restaurant Industry
The effects of McDonald’s unit closures, hiring trends, and leadership changes in the restaurant industry. Learn about the latest developments and key appointments.
Photo by (Augustin-Foto) Jonas Augustin on Unsplash
Photo by (Augustin-Foto) Jonas Augustin on Unsplash
McDonald’s Closures and Expansion Strategy
McDonald’s recent decision to close three locations of the new drive-thru beverage concept in Texas has sparked discussions about the company's strategic moves. While the closures involve larger format outlets, McDonald’s has affirmed its intention to open two smaller format locations in the state. This shift reflects the evolving consumer preferences and the company's adaptability to navigate market demands.
Hiring Trends Amid Concerns
Despite concerns surrounding closures, weak traffic, and bankruptcies in the restaurant industry, the sector continues to witness significant hiring activity. According to recent federal data, restaurants and bars added nearly 30,000 jobs in December, accounting for 12% of overall hiring for the month. This hiring trend signifies the resilience of the industry and its ability to create employment opportunities despite challenges.
Leadership Changes and Industry Dynamics
The restaurant industry is experiencing notable leadership changes, indicating a shift in strategic direction and operational focus. Portillo’s appointing Jack Hartung, Chipotle’s president and chief strategy officer, to its board highlights a cross-pollination of talent within the fast-casual segment. Similarly, Bartaco's promotion of Anthony Valletta, a seasoned hospitality leader, to the CEO position underscores the importance of experience and expertise in steering restaurant concepts to success.