Starbucks Restructuring: 900 Jobs Lost and Store Closures in North America

Starbucks CEO Brian Niccol announced a $1 billion restructuring plan, resulting in the layoff of 900 non-retail employees and store closures across North America. This comes as the coffee giant battles sluggish sales and declining same-store sales over the past six quarters. Niccol cited the inability to create the desired physical environment and financial performance issues as reasons for the closures. The company aims to relocate affected employees and provide severance packages. This move is expected to impact Starbucks' total store count in North America by approximately 1% for the fiscal year 2025. Stay tuned for more updates on this developing story.

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