In case you haven’t been following the goings-ons in the fast food industry, McDonald’s is quickly losing its title as the fast food king and it may likely never regain that title again. Yup, McDonald’s is dying…
Several franchise bosses believe that CEO Steve Easterbrook’s desperate turnaround plan will do more harm to the fast food chain. Apparently, core issues facing the company, such as poor food quality and customer service, are being overlooked in favor of things like the all-day breakfast.
With regards to the all-day breakfast, the franchisors claim it takes too much time to prepare and goes against McDonald’s promises to simplify the menu. One frustrated boss that has been involved with the company since the 1970s went as far as to say that he’s never seen such useless leadership since he started business.
Others are tired of supposedly ‘jumping from one failed initiative to another’ and fear for the future of the business.
According to Nomura analyst Mark Kalinowski, “We are in the throes of a deep depression, and nothing is changing. Probably 30% of operators are insolvent.”
Would I be mistaken to say that McDonald’s slogan “I’m lovin’ it” is no longer accurate?