Unlucky Starbucks

Starbucks to Cut 6,700 Jobs After Earnings Fall 69%

By Courtney Dentch

Jan. 28 (Bloomberg) -- Starbucks Corp., the world’s largest chain of coffee shops, said it will cut 6,700 jobs and close 300 more stores after reporting first-quarter profit that fell more than analysts estimated.

The company plans to close 200 locations in the U.S. and 100 overseas, in addition to the 600 Starbucks said it would close last year. The workforce reduction will eliminate 6,000 cafe positions and 700 corporate jobs, the Seattle-based chain said today in a statement.


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This page contains a single entry by David Levinson published on January 28, 2009 6:54 PM.

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