A year ago, McDonald’s had the highest quarterly profit in the US and the world, according to a report from Goldman Sachs.
Now, that profit is expected to be hit hard by a surge in inflation, the global economy, and a decline in consumer spending.
But McDonald’s still has more than $1.2 trillion in cash on hand, according the Wall Street Journal.
The restaurant chain has said it will use that money to invest in its workforce, which is understaffed.
McDonald’s CEO Don Thompson said in December that the company would invest $200 million to create 1,000 new jobs.
But it’s not just about jobs.
Last month, the company announced it was buying a second headquarters in Omaha, Nebraska, and hiring a third.
But the new headquarters will only house one of the chain’s 3,000 restaurants and restaurants will remain open, said McDonald’s chairman Don Thompson in a statement.
“McDonalds is in a global race to expand its presence, but as the world’s biggest fast-food company, we cannot wait for the next opportunity,” Thompson said.