McDonald's to Hire 260,000 as Dining Areas Start to Reopen

McDonald's will hire about 260,000 people this summer as its dining areas start to reopen after being closed for months due to the coronavirus.
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McDonald's  (MCD) - Get Report plans to hire about 260,000 people this summer as its dining areas start to reopen after being closed for months due to the coronavirus lockdown. 

Separately, a media report says the Chicago fast-food icon will continue to offer a limited menu for now.

The company said that it had implemented about 50 new safety procedures to protect both employees and customers, including closing some seating and tables, cleaning more frequently and keeping play spaces closed. 

“Our local business owners are proud to help their communities and provide employment and educational opportunities to hundreds of thousands of people this summer," said Joe Erlinger, president of McDonald's USA.

The company operates some 14,000 locations in the U.S.

The Wall Street Journal reported that McDonald's will for now maintain a limited menu because it found that removing some items speeded its service and fattened its profit margins.

McDonald's took salads, bagels and yogurt parfaits, among 100 items, off the menu  during the pandemic, the Journal reported. Keeping them off the menu means restaurant operators won't need to stock as many items as well.   

On Thursday, McDonald's also touted the five-year anniversary of its Archways to Opportunity tuition assistance program. To date, the company has given out more than $100 million in tuition support to more than 55,000 restaurant workers and corporate employees.

Employees are eligible for tuition assistance after 90 days on the job at 15 hours a week. 

Earlier this week, McDonald's reported that U.S. same-store sales dipped 5% in May, compared with a 19% drop in April. In international operated markets, sales fell 41% in May, compared with a 67% drop in April. 

In international developmental licensed markets, sales slid 20% in May, compared with a 32% fall in April.

Sales suffered from the closure of restaurants worldwide due to the pandemic. Now, 95% of McDonald’s restaurants are open globally, the company said.

Credit Suisse recently raised its McDonald's price target to $210 from $200, citing increasing foot traffic and the gradual reopening of dining rooms as the reason for the increased optimism. 

McDonald's shares at last check were little changed at $190.55.