The struggling fast food company is having to make drastic cost cuts to improve its performance.

The CEO of McDonalds, Steve Easterbrook said that he is going to cut down the layers of bureaucracy and increase accountability so that the company can move slowly towards changes and keep up with the times. In a 23 minute video message which was posted online on Monday, Steve Easterbrook has stated that the structure of the company is “cumbersome” and added that it can no longer have the “legacy attitude.” “In reality our performance has been really poor, and the numbers cannot lie,” said Easterbrook who took over as head of the company on March 1st.

In order to support quicker changes McDonalds is going to restructure its units into four groups based on its presence in the market: the flagship United States market, established international markets such as the United Kingdom and Australia, fast growing markets such as Russia and China, and the rest of the world. In the past the businesses were segmented geographically.

McDonalds which is based in Oak Brook, Illinois, has also stated that 90% of it’s 36,200 restaurants around the globe will be franchised over the next four years. This number jumped from a previously planned 81% and shows that the company is relying on profits from franchising fees and stepping back from its daily business of running restaurants. These changes in the organization will contribute to $300 million of cost cuts targeted by the company, most of which will be implemented by 2017. Officials from McDonalds have stated that it is too soon to tell how the cost cuts will affect jobs. Larry Light, who was the chief marketing officer of the company in the period from 2002 to 2005 and now, runs a brand consulting firm, has stated that Easterbrook has offered little when it comes to what customers want. “Reducing bureaucracy and making the company more efficient will buy some time, however it will not guarantee you success in the future,” said Light.

The company also revealed their plan during last month to double the number of restaurants they wish to close by the end of the year with the total number being around 700 restaurants. Easterbrook, who was previously the head of U.K. business, described himself as an “internal activist” and stated that he has the will to turn McDonalds into a “modern, progressive burger company.”