McDonalds Corp. will cut its U.K. and Ireland investment plans, including its planned $1bn investment in the food service company Shopify, as part of a broad restructuring plan announced in March.
The U.N. Food and Agriculture Organization estimates that Shopify will save 1,700 jobs in the United Kingdom and Ireland and 1,600 jobs in Europe, where Shopify operates.
In the United States, the company said it will spend $1 billion to build new facilities.
The move, announced on March 29, comes as the fast-food chain has been struggling to rebound from a major financial collapse that sent it into bankruptcy.
It has been trying to shore up its brand and gain back lost sales after years of shrinking profits.
Shares of McDonald’s fell 1.7 percent on Tuesday, after closing at $53.90 in premarket trading.
Shares fell 1 percent on Monday, after trading down nearly 7 percent on March 25.
Shares in McDonald’s were down 1 percent in pre-market trading Tuesday, before recovering to close at $54.60.
Shares were up 2 percent in the premarket trade on Monday.
McDonald’s is a leader in the fast food industry, having become the second-largest U.T. in the U.KS.
The company has also expanded into a number of other sectors, including coffee, bakery, meat, dairy and fast-casual.
Its U.R.S., a division of the U,T., has expanded into the food and beverage and retail sectors.