US EditionStarbucks to close stores, cut 900 jobs in $1B restructuring
Starbucks will cut 900 non-retail jobs and close about 1% of its stores as part of a $1 billion plan to improve store experience and financial performance.
- Starbucks will close about 1% of its U.S. locations and cut 900 jobs as part of its restructuring strategy, according to CEO Brian Niccol.
- Niccol mentioned that some stores are closing due to an inability to create expected environments or a lack of financial performance.
- Starbucks aims to uplift over 1,000 locations while it plans to close 80 to 90 'Pick Up' stores across more than 20 states.
- The company projects a cost of about $1 billion due to these changes, which is part of its strategy to enhance customer experience and operational efficiency.
400 Articles
400 Articles
Starbucks closing some locations in DC area amid corporate layoffs
Multiple Starbucks locations in the D.C. area will close as the company lays off 900 nonretail employees and spends an expected $1 billion on turnaround efforts. News4 spotted closing signs on the locations at: “We’ve made the incredibly difficult decision to close this Starbucks location by the end of this week,” signs posted on the windows said. “We know this...
Can Starbucks $1 Billion Restructuring Plan Fix the Coffee Giant’s Slump?
Key Points Starbucks (SBUX) has faced multiple turnaround efforts without lasting success. Brian Niccol’s hiring from Chipotle Mexican Grill brought hope for a strong recovery. The $1 billion restructuring, with closures and layoffs, highlights deeper challenges. Are you ahead, or behind on retirement? SmartAsset’s free tool can match you with a financial advisor in minutes to help you answer that today. Each advisor has been carefully vette…
Starbucks to Cut 900 Jobs, Shutter Underperforming Stores
This article was originally published by The Epoch Times: Starbucks to Cut 900 Jobs, Shutter Underperforming Stores Starbucks will eliminate approximately 900 jobs and close underperforming stores in North America as part of corporate restructuring efforts, the company announced on Sept. 25. Since taking over in 2024, CEO Brian Niccol has been overhauling operations to revitalize the brand. The overhaul includes a “Back to Starbucks” strategy, …
Coverage Details
Bias Distribution
- 68% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
