The company is implementing a turnaround plan, which includes reorganizing business units, selling restaurants to franchisees and cutting costs in a bid to turn the chain into a progressive burger company.
Last year, McDonald™s revenue fell 2.4 per cent to $27.44 billion as net income dropped 15 per cent to $4.76 billion. The new sirloin burgers will be priced around $5.
However, consumer needs and preferences have changed, and McDonald\'s current performance reflects the urgent need to evolve with today\' consumers, reset strategic priorities and restore business momentum.