McDonald's Streamlines Corporate Structure to Cut Costs

In a move to further trim fat from its management layers, McDonald’s Corp. announced at a town hall meeting on Tuesday that it will eliminate its regional structure and reduce corporate headcount. The new plan -- part of Chief Executive Officer Steve Easterbrook’s multiyear push to streamline operations at the world’s largest restaurant chain -- will reduce its field offices, a move the company says will result in faster decision making and more support for franchisees. Investors have applauded the company’s move to transform itself into a leaner operation, with shares rising about 70 percent since Easterbrook took over.