STARBUCKS TO CLOSE 300 STORES; 7,000 LAYOFFS
Wednesday, January 28, 2009
More bad news for the already struggling Starbucks. The gourmet coffee chain is planning to cut nearly 7,000 jobs and close 300 underperforming stores around the world. 200 of those stores are in the United States. Profits for the company were down by two-thirds in its fiscal first quarter. Starbucks has also reduced the number of stores it plans to open from 200 to 140. All this should save the company about $500 million in saving in fiscal 2009.
Labels: economic emergency
posted by jc @ 9:17 PM,
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