McDonald’s is spending billions to make major changes

McDonald’s is spending billions of dollars to boost its franchises, an effort to cement its title as the leader in fast food amid growing competition. The chain announced Wednesday that it will invest $8.5 billion by 2036 on a series of initiatives, including remodeling restaurants, retraining its 2 million employees and adding new menu items to target high-protein eaters. About $5 billion will be spent in the next three and a half years alone, a combination of capital support as well as rent relief for franchises. It’s all part of a multiyear strategy to win back diners and capture more...