021031 McDonald's Sees Some Cuts After ReviewOctober 22, 2002Oak Brook, IL - McDonald's Corp. said it is likely that some jobs will be cut after it completes a global review of worldwide costs. "We're going through all of our G&A (general and administrative costs) around the world right now," Chairman and Chief Executive Jack Greenberg told investors during a conference call to discuss quarterly results. "It's too preliminary for us to give you any specifics," Greenberg said. "It is likely there will be some job losses. We hope that it won't be significant, but we don't know yet." The company also said that a new value campaign in the United States was showing early signs of positive sales improvement. "In the first 14 days, we have seen incremental sales increases of 1.5% to 2% above our trend line and our comparable sales are positive," said Mike Roberts, who heads the company's U.S. division.
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