Starbucks Announces ‘Restructuring Plan’ Including Layoffs, Store Closures 

I believe these steps are necessary to build a better, stronger, and more resilient Starbucks.

Starbucks CEO Brian Niccol in a company memo sent out Thursday. 

Why It Matters: Amid struggling sales for the world’s largest coffee chain, Starbucks will lay off about 900 employees and close more than 100 standalone locations. The company says it will work to transfer employees to other locations or provide severance packages. Starbucks Workers United, which represents about 12,000 employees, responded, “We expect to engage in effects bargaining for every impacted union store, as we have done elsewhere, so workers can be placed in another Starbucks store according to their preferences.” 

Learn More:  

• Starbucks to close stores, lay off workers in $1 billion restructuring plan (CNBC) 
• Starbucks to Close Over 150 Stores Across US, Canada: What to Know (Newsweek)