McDonald's: This is the most difficult year in a decade, but we are taking no panicky steps

For McDonald's, 2009 will mean investments of above 20m euros, at least six new stores and the hiring of 500 people. The biggest operator of fast-food restaurants on the Romanian market says the most downbeat scenario entails turnover growth of minimum 15%, whereas there are players reporting even losses, while its development plan has suffered no changes so far. "Maybe even more difficult than this year was the period '97-'99, when inflation stood at 100% per year, when purchasing power was incomparably lower than now and when the political situation was more unstable. Today, people are more cautious, they're more reluctant when it comes to eating in a restaurant, especially if they are hurt by unemployment and are spending less, but we are not going to take panicky steps, such as restructuring moves, for instance," Marian Alecu, CEO of McDonald's for Romania, Moldova, Bulgaria and Macedonia, told ZF. While many companies are cutting ad or training budgets, McDonald's says it will invest over 20m euros to expand the restaurant chain now including 58 locations. At present, McDonald's has 4,000 employees, but the new openings and the modernisation of another four restaurants will add at least 500 employees to the company's headcount.