McDonald’s Reduces Some Employees’ Compensation Amid Job Cuts

McDonald’s Corp. reduced some employees’ compensation and titles as part of the restructuring this week that cost hundreds of workers their jobs, according to a person familiar with the situation.

The Chicago-based fast-food giant offered some employees the opportunity to remain on the payroll with changes to their compensation packages, including items such as bonuses and equity awards, said the person, who asked not to be named discussing private information.

McDonald’s closed its offices for a few days earlier this week to have career conversations with all corporate employees, including those being let go.

The company said in January that ...