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Starbucks is trying to bring customers back to its coffeehouses, but the company’s turnaround is coming at the cost of yet another painful message for its workers. Away from the coffee houses, this time the Seattle-based coffee giant is going for corporate jobs and closing several regional support ...
We recently published Jim Cramer’s Latest Thoughts On Cisco, NVIDIA & Other AI Stocks. Starbucks Corporation (NASDAQ:SBUX) is one the stocks discussed by Jim Cramer. Coffee retailer Starbucks Corporation (NASDAQ:SBUX)’s shares are up by 22% over the past year and by 27% year-to-date. Cramer has frequently discussed the firm over the past several months and […]
Starbucks compounded 40,000% since its 1992 IPO. Wall Street cheered as CEO Brian Niccol announced 300 more layoffs.
Office closures in Atlanta, Burbank, Chicago and Dallas drive $280 million of the charge
<body><p>STORY: Starbucks on Friday said it is cutting 300 U.S. corporate jobs as it seeks to return to what it called, "durable, profitable growth." </p><p>:: Archive</p><p>The coffee chain will close several regional offices, including locations in Atlanta, Burbank, Chicago and Dallas.</p><p>:: Starbucks Handout</p><p>It's also reviewing its international support teams, and expects more job cuts outside the U.S.</p><p>The latest round of job cuts at Starbucks - which included last year's elimination of 1,100 corporate roles - comes amid CEO Brian Niccol's turnaround strategy focused on improving customers' in-store experiences.</p><p>:: Starbucks Handout</p><p>The layoffs therefore do not affect Starbucks coffeehouses, where the company is actually investing heavily in more barista staffing.</p><p>Starbucks last month posted its strongest quarterly sales growth in more than two years, but margins have dropped sharply since late 2024.</p><p>Under an incentives plan approved last summer, top Starbucks executives could receive up to 6 million dollars each if cost-cutting targets are met by 2027. </p><p>Even as it cuts costs, Starbucks is investing 100 million dollars to expand in the Southeast, including a new support hub in Nashville that could employ up to 2,000 people over the next five years.</p></body>
Investing.com -- Starbucks is laying off around 300 U.S. support roles and is reviewing its international support organization as it expects to cut more jobs outside of the country.
(Updates with response from a Starbucks spokesperson in the fifth and sixth paragraphs.) Starbuck
The change in staff is about 3% of its US corporate workforce.
The coffee chain expects $400 million in restructuring charges as it closes offices in Atlanta, Burbank, Chicago, and Dallas
Starbucks is laying off 300 U.S. workers and closing several regional corporate offices in the latest move by Chief Executive Brian Niccol to turn the coffee chain around. Starbucks said the 300 U.S. corporate roles are based in Seattle along with remote positions scattered around the country. The company said it is closing regional corporate offices in Chicago, Atlanta, Dallas and Burbank, Calif. It will maintain North American regional offices in New York, Toronto and Coral Gables, Fla., along with its Seattle headquarters and a new Nashville, Tenn., corporate hub.
The cuts affect cybersecurity analysts, technical product managers, systems administrators, and other roles as the company reorganizes its tech department