Charge Will Clip McDonald’s Quarterly Net
McDonald’s Corp. said its second-quarter net income will drop by $235 million, or 33 cents a share, because of charges related to previously announced job cuts and a new food-ordering system. The fast-food giant said it will take a $160-million pretax charge to cover the cost of cutting its headquarters staff by 23%, or 525 jobs, and an additional $190-million pretax charge to introduce its “Made for You” food-preparation system. The company last month announced the first-ever cuts in its Oak Brook, Ill., headquarters staff. Wall Street is expecting second-quarter earnings of 65 cents a share when McDonald’s releases its results Monday. Its shares fell 81 cents to close at $72.81 on the NYSE.