Cheng Xin / Getty Images Starbucks is closing several U.S. and Canadian locations. Key Takeaways Starbucks is closing dozens of outposts it says won't mesh with a turnaround strategy it launched last September. The company is also laying off 900 white-collar employees so it can cut costs and put resources toward "key areas that drive long-term growth," CEO Brian Niccol said. A year into its turnaround attempt, Starbucks says its strategy won’t work in dozens of its locations—which are now set to clo ...

Starbucks closed its flagship Reserve Roastery in Seattle's Capitol Hill neighborhood, nearly 11 years after the location opened as an ...

We mentioned Starbucks approving a restructuring plan that includes job cuts and store closures. Let's talk about that with Bloomberg. Shelly Banjo.She's our managing editor for Global Business. And Shelly, this is Brian Nichols, second round of job cuts since he took over a little over a year ago. Since then, Starbucks shares are down 6%.So like, is he going to finally do something to make these moves in the right direction. I think that's what investors are hoping. We saw the shares pretty much flat on th ...

Is your local Starbucks in jeopardy. Maybe. The coffee giant says it will close about 1% of its North American stores.Starbucks said it expects to finish September with 18,300 locations in North America. It has more than 40,000 locations globally. At the same time, more than a thousand stores will be remodeled with cozier chairs, extra outlets, and warmer colors.The changes are part of a billion dollar back to Starbucks transformation plan under CEO Brian Nickel. That includes 900 new layoffs on top of the ...

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[Music] I'm Yao Finance executive editor Brian Saz and you're taking a look at a live shot of the opening bells on Wall Street on this Thursday morning. A little rainy in New York City. Guest of the South Korean government ringing the bell of the New York Stock Exchange Kodak AI getting things popping over there at the NASDAQ.Indeed, a lot of a little bit of everything so far this morning, friends. Some strong economic data, much of this may of the rate cut seeking bulls, but some negative news out of corpo ...

Stock rally slows down because investors are debating if AI enthusiasm is making tech stocks too expensive. Optimism from the Federal Reserve’s plan to lower interest rates is fading because some policymakers do not agree on cutting rates again this year, as per Yahoo Finance report.US jobless claims drop, GDP surges218,000 Americans filed for unemployment in the week ending Sept. 20, down from 232,000 previously; continuing claims also slightly fell to 1.92 million, as per the US Department of Labor. US I ...

Starbucks will lay off around 900 staff and pull down the shutters on some 100 cafes across North America as part of a $1bn restructuring plan to revive the world’s largest coffee chain.The business, which eliminated 1,100 corporate positions earlier this year, will also close “many” open or vacant positions as it notifies affected employees affected by cuts on Friday.The 900 Starbucks staff hit by the restructuring work in “non-retail” roles, the company said. It will also close 1% of the coffee houses it ...

You can find original article here Nrn. Subscribe to our free daily Nrn newsletters. Starbucks CEO Brian Niccol announced Thursday that the company would be closing about 1% of its North America stores (or approximately 185 cafes, accounting for net openings and closures) and laying off more corporate employees as Starbucks looks to further reduce “headcount and expenses.” This news follows an earlier round of layoffs in February, in which 1,100 roles were eliminated, and a return to office mandate in Ju ...

Barron Trump, the youngest son of the US president, may only be 19 and a sophomore at NYU, but his financial future already looks brighter than some of his more seasoned family members. According to a new breakdown from Forbes, the youngest Trump has quietly built a fortune of about $150 million, surpassing the wealth of his sister Ivanka and even his mother, Melania.How crypto boosted Barron Trump’s net worthThe surprising figure stems largely from Barron’s early interest in cryptocurrency. US president D ...