McDonald's Shuts 15 Stores in Taiwan

Oak Brook, Illinois--McDonald's Corp. has closed 15 restaurants in Taiwan. The Chinese language Chinese Times reported that McDonald's unexpectedly closed 15 of its restaurants island-wide, cutting 390 jobs. It was the largest scale-back of operations by the company since it first opened in Taiwan in 1984, according to the Times report.

In early November, McDonald's announced that it would close approximately 175 underperforming restaurants in 10 countries, and eliminate 400 to 600 positions to control costs and reallocate resources. -Dow Jones Business News