Being in Australia I tend to get a good share of multi-national SEO challenges.
Larger, established brands can break all the rules concerning TLDs because they get local authority through their local links and citations. A current client is a major bank with a presence in 31 countries. They just happen to be my bank, so I have observed them over 20 years. They started as a .com with an Australian emphasis and were multi-national for a while. Then they shut down some of the foreign offices. They then decided to populate their .com.au domain and left a complete, parallel copy on the original .com. Then they resumed their global focus and did NOT use their TLDs in those countries because a handful were not in their possession. These are the obscure countries that haven't signed up to the international copyright conventions. Branding is paramount for them, so no amount of SEO advice could budge them.
So their international locations take the format example.com/countryname. Does that work for them? Of course it does. I was in Singapore where I tested for myself from a local PC, so as to remove any hint of my personal history. They do very well. Despite having the duplicate content in Australia, they do very well among their peers.
A former client who has offices in over 60 countries also started as a .com and when they got more serious in the US they realised that they did not rank at all in that country. They had the usual IT-centric excuse not to make many sites, so I left that for them to resolve internally. Is sales more important than some technician's convenience? I hope they got that point. I did recommend a local micro site for the US that would display US-centric customer stories and local news events.
The takeaways here are that local content and local links can overcome any advantages/disadvantages of a gTLD for a multi-national site.