McDonald's Should Fear Its Franchisees

Turnaround plan seems tailored for shareholders.

Sad on the inside.

Photographer: Mladen Antonov/AFP/Getty Images

After much anticipation, the newly installed chief executive officer of McDonald's, Steve Easterbrook, has announced a sweeping turnaround plan aimed at cutting annual costs by around $300 million at the struggling fast-food behemoth. Wall Street was unimpressed: the stock fell after Easterbrook made his announcement.

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