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A report says McDonald's has closed its U.S. offices for a few days as the company prepares to inform corporate employees about layoffs NEW YORK -- McDonald’s has closed its U.S. offices for a few days as the company prepares to inform corporate employees about layoffs , according to a published report. The Wall Street Journal cited an internal email from the Chicago fast-food giant saying U.S. corporate staff and some employees overseas should work from home while the company notifies people of their job status. McDonald’s declined to comment on the report early Monday. The report said McDonald’s would inform its employees this week about staffing decisions that are part of a broad restructuring of the company announced earlier. Though the U.S. labor market remains strong, layoffs have been mounting, mainly in the Technology sector, where many companies over-hired after a pandemic boom. IBM, Microsoft, Amazon, Salesforce, Facebook parent Meta, Twitter and DoorDash have all anno...

Microsoft has reported a 12% drop in profit for the October-December quarter, reflecting the economic uncertainty it says led to its decision to cut 10,000 workers REDMOND, Washington -- Microsoft on Tuesday reported a 12% drop in profit for the October-December quarter , reflecting the economic uncertainty it said led to its decision to cut 10,000 workers. The company reported quarter ly profit of $16.43 billion, or $2.20 per share. Excluding one-time items, the company based in Redmond, Washington, said it earned $2.32 a share, which topped Wall Street expectation for adjusted earnings of $2.29 a share. The software maker posted revenue of $52.75 billion in the October-December period, its second fiscal quarter, up 2% from the same period a year ago. Analysts polled by FactSet expected Microsoft to post revenue of $52.99 billion for the October-December quarter. Microsoft last week blamed “macroeconomic conditions and changing customer priorities” for its decision to cut nearly 5% ...