Reported about 10 hours ago
Lamb Weston, the largest supplier of french fries to McDonald’s, is laying off 428 workers due to a significant drop in fast-food consumption amid rising prices. The firm has seen a 33% drop in share value this year, attributed to decreased foot traffic at quick-service restaurants, which is expected to continue. Despite some signs of recovery through promotional deals, consumer behavior is shifting towards home cooking, posing further challenges to both McDonald’s and its suppliers like Lamb Weston.
Source: YAHOO