LeadStory

Scripps News

Starbucks closing stores, cutting jobs

Scripps News · Just In
Scripps News
Scripps News
Just In

Affected employees will be notified this week and offered transfer opportunities or severance packages.

Breakdown
  • Starbucks is closing hundreds of stores and initiating a second round of layoffs.
  • The company aims to shut down about one percent of its locations. 7s
  • An additional 900 corporate jobs will be cut. 13s
  • These layoffs are in addition to thousands announced earlier in the year. 17s
  • The restructuring efforts are expected to cost one billion dollars. 20s
Business