McDonald's Is Downsizing by 59 Stores

McDonald's continues down path of financial struggle and there is no McSalvation in sight, it seems: More details have emerged about McDonald's plans to downsize, perhaps for the first time in the company's history. According to Bloomberg, the chain aims to shut down 59 more American locations this year than it plans open in an attempt to cut costs and revive sales. McDonalds will close 184 restaurants while opening only 125 new locations.

McDoanld's CEO revealed in April that the chain's major restructuring plan would include shuttering 350 restaurants in the U.S., Japan, and China. This would be in addition to the 350 locations the chain had already closed over the past year. Still, McDonald's has more than 14,000 locations. Spokesperson Becca Hary doesn't appear to be too worried about the impact of the closures: "In the U.S., we will have a net reduction in restaurants, but the impact is minimal in comparison to the 14,000 restaurants we operate across the country."

Not all is lost for the burger chain. While McDonald's is shuttering restaurants at home, it has plans to open 300 new locations abroad. Additionally, the chain is amping up its tech presence and finally releasing a new app.