McDonald’s – American Conservative Movement https://americanconservativemovement.com American exceptionalism isn't dead. It just needs to be embraced. Wed, 16 Oct 2024 13:25:32 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.2 https://americanconservativemovement.com/wp-content/uploads/2022/06/cropped-America-First-Favicon-32x32.png McDonald’s – American Conservative Movement https://americanconservativemovement.com 32 32 135597105 McDonald’s Will Likely Revamp Value Meal as Kamalanomics Continues to Strain the Wallets of Lower-Income Customers https://americanconservativemovement.com/mcdonalds-will-likely-revamp-value-meal-as-kamalanomics-continues-to-strain-the-wallets-of-lower-income-customers/ https://americanconservativemovement.com/mcdonalds-will-likely-revamp-value-meal-as-kamalanomics-continues-to-strain-the-wallets-of-lower-income-customers/#respond Wed, 16 Oct 2024 13:25:32 +0000 https://americanconservativemovement.com/mcdonalds-will-likely-revamp-value-meal-as-kamalanomics-continues-to-strain-the-wallets-of-lower-income-customers/ (Natural News)—McDonald’s Chief Executive Officer Chris Kempczinski has announced that the fast food giant will likely “revamp” its value meal as President Joe Biden’s economic program, also known as “Bidenomics,” continues to strain the wallets of lower-income customers.

In July, McDonald’s reported a decline in same-store sales for the first time in nearly four years, a drop attributed to tightened consumer spending following prolonged periods of high inflation. In response, the fast-food giant introduced a $5 summer deal in June, designed to offer an affordable option for customers struggling amid inflation and high interest rates.

The limited-time meal deal, which includes a choice of a McDouble, McChicken sandwich or a 4-piece Chicken McNuggets, along with a small fry and soft drink, has been well-received by customers. And now that customers continue to grapple with economic strain, McDonald’s extended the offering until December. (Related: Bidenomics: Big Mac extra value meal now costs $10 more than it did during Trump’s era.)

“We’re committed to keeping our prices as affordable as possible,” Joe Erlinger, president of McDonald’s USA, said in September.

McDonald’s is also releasing app-exclusive promotions, including a fried chicken sandwich for $2. Kempczinski is also looking at ways to do a complete “reset” or overhaul of its value offerings, noting that the number of $1, $2 and $3 menu offerings has shrunk in recent years amid rising food and operating costs.

In line with this, Kempczinski also noted that chicken, a food way cheaper than beef, could play a key role in offering more affordable meal options.

“It’s easier to deliver value on chicken products than it is on beef products,” he explained, adding that beef prices are currently more than twice those of chicken on a per-pound basis.

“We’re starting to talk about 2025, and my message to our teams has been: ‘We need to be preparing for another challenging year,'” Kempczinski said. “We need to be making sure that we’ve got a really strong value proposition in all of our markets.”

Harris will continue Bidenomics despite its negative consequences if elected president

In an article for  Zero Hedge, Tyler Durden wrote that economic conditions for low-income consumers are expected to worsen through the end of the year, particularly due to potential increases in energy prices.

“Economic conditions for the working poor will only get more challenging through the end of the year. MCD reports third-quarter earnings on Oct. 29. The lingering problem for consumers is an energy price shock at the pump could materialize if Israel begins bombing Iran’s crude oil export facilities. Consumers need to buckle up,” Durden wrote.

Rep. Randy Weber (R-TX) noted that “Harris would not have changed a damn thing” from the policies of the Biden administration.

“If you think four more years of Harris won’t mean the same high gas prices, inflation, open borders and crime, I’ve got oceanfront property in Oklahoma to sell you! Kamala Harris admitted she wouldn’t change a thing from Biden’s disastrous policies,” Weber posted on X, along with a clip of Harris’ guesting on ABC’s “The View” on Oct. 8.

In other words, there will be no respite for these economic strains if Harris wins in November.

Follow Collapse.news for similar stories. Watch this clip from Fox Business as former U.S. International Trade Commission Chief Peter Morici discusses how President Joe Biden’s management of the American economy has been “a failure.”

This video is from the News Clips channel on Brighteon.com.

More related stories:

Sources include:

]]>
https://americanconservativemovement.com/mcdonalds-will-likely-revamp-value-meal-as-kamalanomics-continues-to-strain-the-wallets-of-lower-income-customers/feed/ 0 212398
More Layoffs Coming to McDonald’s as Fast Food Giant Embraces Google’s AI for Online Ordering https://americanconservativemovement.com/more-layoffs-coming-to-mcdonalds-as-fast-food-giant-embraces-googles-ai-for-online-ordering/ https://americanconservativemovement.com/more-layoffs-coming-to-mcdonalds-as-fast-food-giant-embraces-googles-ai-for-online-ordering/#comments Sat, 16 Dec 2023 09:47:04 +0000 https://americanconservativemovement.com/?p=199405 (Natural News)—McDonald’s is going human-less in an effort to keep its top executives handsomely paid and its lower-level store employees, well, obsolete.

In a recent press release, McDonald’s announced a new partnership with Google that will utilize the search engine giant’s artificial intelligence (AI) technology at McDonald’s franchise stores.

With self-serve kiosks already plastered inside McDonald’s restaurants all around the world, the next step for the world’s most well-known fast food chain is to do away with all remaining human employees and replace them with robots and computers.

“We see tremendous opportunity for growth in our digital business and our partnership with Google Cloud allows us to capitalize on this by leveraging our size and scale to build capabilities and implement solutions at unmatched speeds,” commented McDonald’s Executive Vice President and Global Chief Information Officer Brian Rice, who makes nearly $5 million annually from the company.

“Connecting our restaurants worldwide to millions of datapoints across our digital ecosystem means tools get sharper, models get smarter, restaurants become easier to operate, and most importantly, the overall experience for our customers and crew gets even better.”

(Related: Starting next year, McDonald’s and all other fast food chains in California will need to start paying their employees at least $20 an hour.)

McHatin’ it

McDonald’s says its new partnership with Google and its AI program “is a significant step for McDonald’s in advancing its restaurant technology platform to become the most sophisticated and productive in the industry.”

Notice that McDonald’s has shifted away from caring about things like food quality and an immersive restaurant experience. Instead, McDonald’s seems to be all about getting customers in and out of the store as quickly as possible with as little human interaction as possible – because human employees cost the company money that it would rather stuff into the pockets of Rice and other high-level executives.

According to the fast food chain, letting AI robots take over the brand will bring “significant advancements” the each restaurant and its “customer platforms.”

“With a consistent approach, McDonald’s expects to deploy innovations with much greater speed and agility,” the press release further states. “McDonald’s will use edge computing from Google Cloud to power these new platforms, bringing information storage and high powered computing into individual restaurants.”

Also commenting on the partnership was Thomas Kurian, Google Cloud’s Chief Executive Officer, who celebrated the fact that McDonald’s is shifting away from having humans work its restaurants.

“Through this wide-ranging partnership, Google Cloud will help McDonald’s seize on new opportunities to transform its business and customer experiences, empowering restaurants worldwide with the latest technologies for near-term impact,” he said.

“Pairing the iconic brand, size and scale of McDonald’s with Google Cloud’s deep history in AI and technology innovation will redefine how this industry works and what people expect when they dine out.”

In the comments, many people noted that the customer experience at McDonald’s has been lackluster, to say the least, for many years.

“AI doesn’t spit in your food, so there’s that,” one of them wrote.

“Who eats this slop anyway?” asked another. “No soda, no food that isn’t real food. It’s cheaper and healthier.”

Others pointed out that even regular food from grocery stores in the United States is extremely unhealthy due to the country’s piss-poor consumer protection laws.

“‘Bread’ is chemical crap almost everywhere,” one person from another country wrote about the average American loaf of bread. “The mustard is just yellow, tasteless glue, and all with added sugar for no reason whatsoever. Is sugar a religion over there?”

The latest news about the AI takeover of the world can be found at Robots.news.

Sources for this article include:

]]>
https://americanconservativemovement.com/more-layoffs-coming-to-mcdonalds-as-fast-food-giant-embraces-googles-ai-for-online-ordering/feed/ 5 199405
McDonald’s Bankruptcies Soar 40% and Now Thousands of Stores Are About to Disappear https://americanconservativemovement.com/mcdonalds-bankruptcies-soar-40-and-now-thousands-of-stores-are-about-to-disappear/ https://americanconservativemovement.com/mcdonalds-bankruptcies-soar-40-and-now-thousands-of-stores-are-about-to-disappear/#comments Wed, 02 Aug 2023 17:30:30 +0000 https://americanconservativemovement.com/?p=195443 McDonald’s is a fast food empire with over 40,000 restaurants across the globe and more than 13,000 locations in the United States. With an annual revenue of over $23 billion a year, the company is by far the largest burger chain in the world.

Since the pandemic, it saw profits ballooning, despite citing rising operational costs and supply chain issues as major problems dragging growth and even passing along a series of price increases to its customers to allegedly offset sales losses. With its stock rallying at the moment, and higher menu prices resulting in a significant increase in average ticket costs, it’s hard to imagine how a business of this size and magnitude can be struggling right now.

The answer is not simple, but in today’s video, we’re going to explain why the biggest fast food chain in the entire industry is facing a rare and yet unsurprising wave of bankruptcies in 2023.

Despite being the greatest fast-food corporation the world has ever seen, 95% of McDonald’s restaurants in America are operated by independent owners, and the war between corporate and franchisees seems to be getting worse this year. For decades, operators have been fighting McDonald’s tightening rules and expensive demands, and now many of them are hitting a breaking point.

For about 40% of franchisees, McDonald’s new financial requirements may end their years-long leases because the company’s rising expenses are not allowing these stores to hit profit targets. Simply put, these franchisees may have their contracts canceled, losing all of their investment if they fail to meet corporate expectations. In other words, one in four McDonald’s operators is at risk of going bankrupt due to the actions of the company itself.

But their strategy of expanding their business on the back of operators isn’t a clever one. At some point, its entire model could be at risk if enough of them decide to leave the company. When they signed their contracts with the megachain, franchisees were promised to become partners with the company. But over the years, corporate changed rules and regulations, so that the operators were the only ones responsible for the risk of managing a low-margin restaurant business during economic downturns.

On a consumer level, things aren’t going great either. The brand’s push for more expensive burgers has not been well-accepted by customers. Even though the average ticket prices have risen by roughly 15% over the past 12 months due to higher menu prices, there are fewer people visiting McDonald’s locations on a monthly basis, and they are even fewer people revisiting its restaurants multiple times in a month.

Put simply, customer loyalty is going down, and that was one of the main pillars that helped McDonald’s to build its brand since its foundation in 1955. Unfortunately, McDonald’s case is a clear demonstration of how a great business can rot from within due to its own greed. That’s a reality more people are waking up to right now, and that ultimately will contribute to the demise of the greatest fast-food chain America has ever seen.

Sound off about this article and video on our Economic Collapse Substack.

Article and video cross-posted from Epic Economist.

]]>
https://americanconservativemovement.com/mcdonalds-bankruptcies-soar-40-and-now-thousands-of-stores-are-about-to-disappear/feed/ 4 195443
McDonald’s Is Collapsing Before Our Eyes as Retail Apocalypse Crush World’s Biggest Fast Food Chain https://americanconservativemovement.com/mcdonalds-is-collapsing-before-our-eyes-as-retail-apocalypse-crush-worlds-biggest-fast-food-chain/ https://americanconservativemovement.com/mcdonalds-is-collapsing-before-our-eyes-as-retail-apocalypse-crush-worlds-biggest-fast-food-chain/#comments Mon, 03 Jul 2023 05:14:44 +0000 https://americanconservativemovement.com/?p=194301 For decades, McDonald’s was the most popular fast food chain in America, a place where families and children could enjoy a meal at affordable prices. But those days are long gone. Now, the soaring cost of several menu items is making the company lose millions of customers and billions in sales every year, resulting in worrying cash flow problems that are accelerating its collapse in the very industry it helped to create. In this video, we explore some of the reasons why the world’s largest burger flipper is losing momentum and falling apart in the US market as the brand continues to lose its essence.

May was yet another month where a wave of customer defections hit several McDonald’s restaurants across the US. In nine of the past 10 months, the burger flipper reported losing customers in the United States, and a new analysis reveals that has everything to do with its new pricing strategy.

In April, McDonald’s announced price increases on a number of menu items for the second time in a single quarter. The company noted the decision came amid rising commodity prices and labor costs. The last price hike was seen on February 15, when it raised the cost of five combos by a dollar. But indicators show that consumers are getting fed up with higher costs at McDonald’s restaurants. In the first quarter of 2023, the company reported an average price increase of about 10% in its US locations when compared to the same period of the prior year.

Although executives said that higher menu prices are helping the company to boost earnings and revenue, analysts argue this is also shrinking the chain’s customer base, which will ultimately hurt its bottom line.
Even though same-store sales have risen over the past decade, higher average checks drove these numbers, not customer visits. “How many millions of lost customers will it take before McDonald’s really focuses on reversing this risky trend?” asks Forbes contributor, Larry Light.

He predicts that for the company to increase revenues relying on average checks on a shrinking customer base will require the average customer to spend $20 per transaction. This troubling pricing strategy is accelerating the brand’s downfall. During a call with investors, the CFO highlighted that McDonald’s cannot survive with declining customer counts. Corporate knows that it’s impossible to maintain a chain that operated 38,000 stores across the globe on a shrinking customer base. Still, nothing has been done to prevent this from happening.

Considering its enormous operations worldwide and the conditions that led the company to become a huge success, it is very odd to see that instead of investing in keeping and growing its base of customers who can afford to regularly frequent its restaurants, the brand is focusing on gaining a public that already has hundreds of options of higher priced burger chains out there.

In an industry that is getting more and more competitive with each passing year, being one of the largest and oldest chains in the market is not a synonym for success and growth anymore. Businesses have to adapt constantly and, more importantly, value the customers that they already have. The fall of McDonald’s is a self-inflicted crisis that will spark major repercussions for the company in the near future. And that means America’s most iconic fast-food chain is at serious risk of collapsing all around us, and its downfall will be very painful to watch.

Article and video via Epic Economist.

]]>
https://americanconservativemovement.com/mcdonalds-is-collapsing-before-our-eyes-as-retail-apocalypse-crush-worlds-biggest-fast-food-chain/feed/ 3 194301
30% of McDonald’s Franchises Are in Trouble https://americanconservativemovement.com/30-of-mcdonalds-franchises-are-in-trouble/ https://americanconservativemovement.com/30-of-mcdonalds-franchises-are-in-trouble/#comments Sun, 18 Jun 2023 12:43:23 +0000 https://americanconservativemovement.com/?p=193706 An April report by Franchise Consulting Group in partnership with VF Franchise Consulting titled “McDonald’s Model in Dying Days – 30% of Franchisees Insolvent” suggests some franchisees are insolvent and the McDonald’s business model of Ray Kroc may be in its end days.

Franchisees generate over 2/3rd of their revenues in the U.S. Franchise owners say the corporation is on a destructive path, and one 8-store franchisee just declared bankruptcy. Some 1,700 stores have changed hands in the last year, and some 2,000 stores are expected to close by the end of this calendar year. Franchisees operate 95% of McDonald’s locations in the U.S.

https://www.youtube.com/watch?v=qQkAXzil_9Y

In a financial survey by the Nomura Group, one McDonald’s franchisee stated the company is in the “throes of a deep depression, and nothing is changing” and that “probably 30 percent of operators are insolvent”.

Problems cited include pressure from government regulations, labor tensions, and financial losses are said to be to blame. The typical two most often mentioned are the cost of goods due to inflation of the last two years and the cost of labor due to higher minimum wages.

But these are not the only issues causing problems between McDonald’s corporate of Oak Brook, Illinois, and local franchise owners. Another April article in Restaurant Business Online offered:

The Investing Future report, McDonald’s goes to battle over ‘joint employer’ rules—with its franchisees,” offered:

“McDonald’s once again was accused of being a heavy-handed “joint employer” of its franchisees’ employees. But this time, the accusations are coming not from labor groups but a group of the company’s own operators.

The Chicago-based burger giant’s ongoing dispute with its franchisees intensified this week over the level of control the company exerts on its operators’ businesses, this time with franchisees suggesting that some of its actions could qualify the company as a joint employer under potentially tightened regulations of the franchisee-franchisor relationship.

The result led to an intense week featuring warring statements between multiple groups of operators along with accusations of intimidation and threats and fears that the franchisee base has become divided.”

Another complaint franchisees have about McDonald’s corporate is that customer survey standards and new ownership requirements can hinder the operation of their stores.

Despite this apparent internal squabbling in the company between store owners and corporate, McDonald’s stock performance remains remarkably strong but this news story makes one wonder if this is not just the calm before the stock market storm so many are predicting these days.

OPINION:

Some people might consider me a lucky freak, but I consider myself blessed by God. As it turns out, I once ate at the first McDonald’s and was served personally by Ray Kroc. The McDonald’s #1 restaurant was built in Des Plaines, Illinois, and opened by Ray Kroc in April 1955. I met him some years later as a toddler as McDonald’s was getting all kinds of positive reviews in Chicagoland newspapers around 1958.

My meal was a burger, shake, and French fries, and it totaled out to less than 50 cents. We ate in our family car as there was no inside dining at that time.

McDonald’s has had a ton of “Bud Light moments” throughout its history, and it has overcome all of them. I remember when I was a teenager, and somebody leaked an internal document that McDonald’s was thinking of experimenting with using the meat of earthworms to supplement their beef patties. Boy, was that ever a premature Klaus Schwab moment for them!

McDonald’s is part of America’s heritage now, and I hope and pray they figure out a way through their current issues. Having a McDonald’s close-up shop is about as devastating to a community as losing a local Walmart… another piece of Americana.

Copyright © 2023 by Mark S. Schwendau

~~~

Mark S. Schwendau is a retired technology professor who has always had a sideline in news-editorial writing where his byline has been, “Bringing little known news to people who simply want to know the truth.”  He is a Christian conservative who God cast to be a realist.  His website is www.IDrawIWrite.Tech.

]]>
https://americanconservativemovement.com/30-of-mcdonalds-franchises-are-in-trouble/feed/ 2 193706
McDonald’s Is in Deep, Deep Trouble as Biggest Fast Food Chains in America Face Collapse https://americanconservativemovement.com/mcdonalds-is-in-deep-deep-trouble-as-biggest-fast-food-chains-in-america-face-collapse/ https://americanconservativemovement.com/mcdonalds-is-in-deep-deep-trouble-as-biggest-fast-food-chains-in-america-face-collapse/#comments Sun, 28 May 2023 07:38:15 +0000 https://americanconservativemovement.com/?p=193042 Now this is very serious, folks. A new report by Franchise Consulting Group has exposed that McDonald’s business model is in its dying days. Believe it or not, the biggest fast food chain in the entire world is facing rising unrest among franchisees that generate over two-thirds of its revenue in the U.S. and say the company is on a “destructive path.”

One of them has gone bankrupt and filed for bankruptcy just 45 days ago, and insiders familiar with the matter are saying that systemic risks are rapidly growing for the food service retailer given that about 30% of franchisees are currently insolvent.

To make things worse, by the end of 2023, 2,000 McDonald’s restaurants may disappear from U.S. cities. Pressure from regulators, labor tensions, and financial losses may force the fast food giant to sharply reduce its brick-and-mortar footprint this year as it faces a reckoning after years of mismanagement, according to the analysis.

The report notes that management is struggling to justify higher fees and other charges to franchisees that are already coping with rising wages and the unrelenting climb in costs for ingredients and packaging which have been eroding profits over the past few years.

Franchisees operate 95 percent of McDonald’s locations in the U.S. and generate about 70 percent of revenue in the country. The National Owners Association estimates that McDonald’s restaurants, on average, will generate less cash for a second straight year in 2023, further complicating the situation of operators that aren’t financially sound.

Squeezed by higher costs and grumbling at new operating rules, franchisees are joining a meeting this month with the company’s board to press their case in person. The session will give U.S. operators “an opportunity to share with the board of directors why we believe we are on a destructive path,” one group of owners said in an emailed newsletter to about 1,000 members.

Backed by analysts, many of them fear the franchise system is nearing a major crisis, some going so far as to suggest the business model is doomed.

“The CEO is sowing the seeds of our demise. We are a quick-serve fast-food restaurant, not a fast casual like Five Guys or Chipotle,” said one franchisee.

“The system is very lost at the moment,” said another franchisee. “Our menu boards are still bloated, and we are still trying to be too many things to too many people. Things are broken from the franchisee perspective.”

In a financial survey by the Nomura Group, a franchisee stated that the company is in the “throes of a deep depression, and nothing is changing” and exposed that roughly “30 percent of operators are now insolvent”. Another franchisee cited by the FCC report went as far as to speculate that McDonald’s is literally “facing its final days”.

In recent months, Americans have taken to social media to voice their outrage about the McDonald’s prices. They say the chain has become wildly overpriced while quality is deteriorating. For U.S. consumers, some of the biggest draws of eating at fast-food chains are convenience and comfort, but the biggest of them all is certainly affordability. And while McDonald’s customers reckon with higher fast-food bills, the company itself is also in the midst of a reckoning about its future.

The bankruptcies, the closings, and the layoffs demonstrate why analysts believe McDonald’s business model is collapsing.

Article and video cross-posted from Epic Economist.

]]>
https://americanconservativemovement.com/mcdonalds-is-in-deep-deep-trouble-as-biggest-fast-food-chains-in-america-face-collapse/feed/ 1 193042
Stubborn Inflation Causes the Price of Big Macs to Soar https://americanconservativemovement.com/stubborn-inflation-causes-the-price-of-big-macs-to-soar/ https://americanconservativemovement.com/stubborn-inflation-causes-the-price-of-big-macs-to-soar/#respond Fri, 14 Apr 2023 06:52:38 +0000 https://americanconservativemovement.com/?p=191743 The relentless inflation that has been draining Americans’ savings extends far beyond the grocery store, and one popular fast food sandwich illustrates just how much prices have risen in recent months. Although its price varies by location, a Big Mac combo meal is now selling for $16.89 in Connecticut.

Right now, the average price for a Big Mac in the U.S. is estimated to be $5.15, which is a 22 percent rise over its pre-pandemic price. Residents of Hawaii are currently paying the most, shelling out $5.31 for the sandwich alone, followed by New York at $5.23 and New Jersey at $5.19. The cheapest Big Macs can be found right now in Mississippi, where the unhealthy menu item will set you back just $3.91.

When the iconic sandwich was first launched 55 years ago in Pennsylvania, it cost just 45 cents. The sandwich features two all-beef patties, lettuce, cheese, onions, pickles and a special sauce on a sesame seed bun and is one of the fast food chain’s most recognizable offerings. It is now featured at more than 38,000 McDonald’s outlets throughout the world and its price has even become a topic of interest for economists.

In 1986, The Economist started the Big Mac Index to measure currencies around the world using the price of a Big Mac in America as its comparison point. Inflation has driven up the cost of food across the board in the last few years, with the price of not only ingredients but also packaging and fuel all playing a role in the soaring expense of food.

One TikTok user recently exposed a particularly overpriced Big Mac at a Connecticut McDonald’s, where the menu in the footage clearly states that the price of a Big Mac combo is $16.89, while the price for a chicken sandwich combo ranges from $16.69 to $17.89.

In the video, the narrator can be heard shouting, “Y’all remember them stimulus checks that they gave out? Thought you was getting away with that stimulus money, huh? They want it back!”

The reactions to the video expressed outrage and disbelief, with the general consensus being that this unhealthy, chemical-laden combination of a sandwich, soda and fries is not worth nearly $17.00. One commenter noted that the meal was not worth it even when its price was closer to $8.

Although the user conceded that they were at a rest stop location, where the prices do tend to be higher, McDonald’s prices have indeed been climbing without providing additional value to consumers.

McDonald’s is laying off corporate employees as part of wider restructuring

In addition, the fast food chain has been reducing some employees’ pay and titles as part of a restructuring that will see hundreds of workers lose their positions. Last week, they closed their offices for a few days to hold career conversations with their corporate employees, telling them to work from home so they could be informed of staffing changes virtually. Some were reportedly told they could hold onto their jobs by agreeing to reduced pay, cuts to their benefits, and changes to their position or title.

Earlier this year, McDonald’s announced that it would be cutting corporate jobs and eliminating some initiatives despite opening a series of new stores. The jobs that are being cut are largely on the corporate side, while the restaurants themselves are still struggling to fill openings.

Meanwhile, McDonald’s U.S. President Joe Erlinger announced that the firm would permanently close all 10 of its field offices throughout the nation, citing high costs and underutilization. And while it is not surprising to see a company that serves unhealthy food at elevated prices struggle, it’s part of an unfortunate broader trend of corporate layoffs that could lead to a major economic meltdown.

Sources for this article include:

]]>
https://americanconservativemovement.com/stubborn-inflation-causes-the-price-of-big-macs-to-soar/feed/ 0 191743
10 Major Layoff Announcements That Have Already Happened so Far in 2023 https://americanconservativemovement.com/10-major-layoff-announcements-that-have-already-happened-so-far-in-2023/ https://americanconservativemovement.com/10-major-layoff-announcements-that-have-already-happened-so-far-in-2023/#respond Mon, 09 Jan 2023 00:47:24 +0000 https://americanconservativemovement.com/?p=188197 This is my rebuttal to those in the federal government and elsewhere that are attempting to claim that the job market is in good shape.  No matter how many workers get laid off, the Bureau of Labor Statistics always seems to find a way to post a positive jobs number each month.  We were told that the U.S. economy somehow added 256,000 jobs in November even though Challenger, Gray & Christmas determined that the number of layoffs in November 2022 was actually 417 percent higher than it was during the same month a year earlier.  And even though the tsunami of layoffs continued in December, the Bureau of Labor Statistics is telling us that the U.S. economy somehow added 223,000 jobs last month.  It is almost as if there is a certain number that the BLS refuses to go below.  For each of the last five months, the number of jobs that the U.S. has “added” has miraculously come in between 200,000 and 300,000 each time.  But meanwhile large companies all over America have been laying off workers at a staggering rate.

Unfortunately, the pace of layoffs seems to be picking up speed during the early days of 2023.  The following are 10 major layoff announcements that have already happened so far this year…

#1 Salesforce has announced that approximately 10 percent of their workers will be canned…

Salesforce Inc. plans to cut about 10% of its staff as part of a restructuring plan, the software company said Wednesday.

The company will also exit some real estate and cut back on office space, it disclosed in a filing with the Securities and Exchange Commission. The plan is aimed to reduce operating costs, boost operating margins, and drive “profitable growth.”

#2 Vimeo says that “11% of the company’s workforce” will be permanently canceled…

Vimeo has launched another round of layoffs, a company spokesperson confirmed to Insider on Wednesday.

In an email to staff, Vimeo CEO Anjali Sud said the layoffs would impact 11% of the company’s workforce.

#3 StickFix is eliminating “about 20% of its salaried workforce” as the company starts to come apart at the seams…

StitchFix will cut about 20% of its salaried workforce, according to a statement published by the company on Thursday.

Along with the cuts, the company’s CEO is stepping down, the company announced in a statement.

The company will also close a Salt Lake City, Utah facility, they said.

#4 Their first round of layoffs was not deep enough, and so now Genesis is saying goodbye to “30% of its workforce in a second round of layoffs”

Cryptocurrency firm Genesis has cut 30% of its workforce in a second round of layoffs in less than six months, according to a person familiar with the matter, as pressure builds on crypto industry executives to cut costs in the wake of a downturn.

#5 Not to be outdone, Silvergate Capital is laying the axe to 40 percent of their workers

Amid a “crisis of confidence” across the cryptocurrency industry, crypto banking group Silvergate Capital will cut 40% of its workforce and abandon some projects—including a blockchain-based payment solution based on Meta’s abortive Diem project.

#6 SuperRare Labs has just announced that 30 percent of their workforce will need to look for new jobs…

SuperRare Labs, the company behind NFT marketplace SuperRare, became the latest crypto player to make job cuts on Friday, announcing it will reduce its staff by 30%.

The news came from SuperRare CEO John Crain, who tweeted out a message he sent to employees in Slack.

#7 More than a third of Biocept’s workers will be shown the door as the company struggles to survive…

Liquid biopsy firm Biocept said Friday that it is exploring strategic alternatives to enhance shareholder value, and has engaged EF Hutton, a division of Benchmark Investments, as its financial adviser.

As this process moves forward, the firm is implementing a restructuring plan that includes reducing staff by approximately 35 percent.

#8 The first two rounds of layoffs didn’t do the trick, and so now Compass has decided to conduct a third round of layoffs

Compass is still coming back to earth — but this time possibly without its headquarters. On Thursday, The Real Deal reported that the real-estate company was looking to sublease its 89,000-square-foot office space at 90 Fifth Avenue near Union Square. The same day, Compass also announced it was conducting its third round of layoffs this year; in an SEC filing, the company wrote that layoffs would “allow for a path to achieve positive free cash flow in 2023.”

#9 It turns out that the layoffs at Amazon will be much larger than originally anticipated

Amazon said it is slashing a total of 18,000 jobs, a larger number of positions than it previously announced and the largest set of layoffs in the e-commerce giant’s history.

“We typically wait to communicate about these outcomes until we can speak with the people who are directly impacted,” CEO Andy Jassy said in a note to employees that the company made public on Wednesday. “However, because one of our teammates leaked this information externally, we decided it was better to share this news earlier so you can hear the details directly from me.”

#10 The Daily Mail is reporting that McDonald’s “will slash many of its 200,000 corporate staff in coming months” as it attempts to turn the business back in a positive direction…

McDonald’s CEO Chris Kempczinski has revealed plans to slash corporate jobs later this year to help the business grow.

In a letter to staff on Friday, the fast-food giant boss said there would be ‘difficult discussions and decisions ahead’ and warned that the company had become unfocused.

But don’t worry.

The Bureau of Labor Statistics is telling us that everything is just fine.

You believe them, don’t you?

Sadly, it appears that a lot more layoffs could be coming very soon.  For example, Bed Bath & Beyond is in such bad shape that it may soon not have many employees left at all…

Now Bed Bath & Beyond “has concluded that there is substantial doubt about the company’s ability to continue as a going concern,” the retailer said on Thursday. This means Bed Bath & Beyond has to consider all financial options, including restructuring, selling assets or going through bankruptcy.

“These measures may not be successful,” the company added. Its stock price dropped more than 20% as soon as markets opened.

For years, our leaders have been desperately trying to prop up our “bubble economy”, and for a while their efforts were successful.

But now they can no longer hold back the economic catastrophe that has been building for more than a decade.

This generation was handed the keys to the greatest economic machine in world history, but those in power have wrecked it.

Now we stand at the brink of an unprecedented economic crisis, and the months ahead are likely to be quite brutal.

***It is finally here! Michael’s new book entitled “End Times” is now available in paperback and for the Kindle on Amazon.***

About the Author: My name is Michael and my brand new book entitled “End Times” is now available on Amazon.com.  In addition to my new book I have written six other books that are available on Amazon.com including “7 Year Apocalypse”“Lost Prophecies Of The Future Of America”“The Beginning Of The End”, and “Living A Life That Really Matters”. (#CommissionsEarned)  When you purchase any of these books you help to support the work that I am doing, and one way that you can really help is by sending copies as gifts to family and friends.  Time is short, and I need help getting these warnings into the hands of as many people as possible.

I have published thousands of articles on The Economic Collapse BlogEnd Of The American Dream and The Most Important News, and the articles that I publish on those sites are republished on dozens of other prominent websites all over the globe.  I always freely and happily allow others to republish my articles on their own websites, but I also ask that they include this “About the Author” section with each article.  The material contained in this article is for general information purposes only, and readers should consult licensed professionals before making any legal, business, financial or health decisions.

I encourage you to follow me on social media on Facebook and Twitter, and any way that you can share these articles with others is definitely a great help.  These are such troubled times, and people need hope.  John 3:16 tells us about the hope that God has given us through Jesus Christ: “For God so loved the world, that he gave his only begotten Son, that whosoever believeth in him should not perish, but have everlasting life.”  If you have not already done so, I strongly urge you to invite Jesus Christ to be your Lord and Savior today.

Article cross-posted from The Economic Collapse Blog.

]]>
https://americanconservativemovement.com/10-major-layoff-announcements-that-have-already-happened-so-far-in-2023/feed/ 0 188197