Starbucks announces plans to cut another 900 jobs and close more stores as its turnaround struggles continue
Starbucks (SBUX) announced plans to close unprofitable locations and cut corporate jobs as CEO Brian Niccol focuses on the company's turnaround plan. In a letter posted to its news blog, and sent to employees on Thursday, Niccol shared that the company plans to eliminate 900 current non-retail roles and close open positions. The memo said employees will be notified on Friday, Sept. 26 and will offer "severance and support packages including benefits extensions." "We will continue to carefully manage cost ...