finance.yahoo.com

Starbucks Lays Off 200+ Corporate Employees as Turnaround Continues

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Sig2.35Sen+1.45Env0.00Soc-2.60Gov-0.80

Starbucks Corporation is laying off more than 200 corporate employees as CEO Brian Niccol streamlines the company under its Back to Starbucks turnaround strategy. Cuts include about 120 technology roles that did not relocate to Nashville, plus 104 positions in coffeehouse design and development. Management expects lower corporate costs and improved store productivity, while another round of layoffs could indicate the restructuring is not yet complete.

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