McDonald's to lift veil on latest game plan to fix struggling business

McDonald's is set to unveil its latest plans to revive its sputtering business on Monday.

The plans are to be detailed just two months after CEO Steve Easterbrook stepped in to take charge of the world's biggest hamburger chain.

McDonald's is fighting intensifying competition from a variety of players and has admitted that it failed to keep up with changing tastes. Sales in Asia took a big hit after a controversy over a major supplier this past summer, and business in Europe has been weak.

In its flagship U.S. market, executives said the menu got too complicated and gummed up operations. Customer visits at established locations declined for two straight years.

Already, McDonald's has tried a number of moves to inject some life back into its brand.

Back in December, it said it would start trimming its menu to simplify operations and make room for new offerings. More recently, it began testing an all-day breakfast menu in San Diego, revamped its grilled chicken recipe and said it would curb the use of antibiotics.

The company also said last month that it would double its planned restaurant closures this year to roughly 700. It hasn't yet revealed its updated plans on overall restaurant count growth. At the end of last year, McDonald's Corp. had more than 36,200 locations around the world.

Easterbrook, who previously headed up the U.K. business, says he wants to turn McDonald's into a "modern, progressive burger company" and has described himself as an "internal activist."