Starbucks to Close Stores, Cut More Jobs As CEO Deepens Restructuring
Starbucks said on Thursday it would shutter underperforming stores in North America and cut 900 jobs in a $1 billion restructuring effort, as CEO Brian Niccol presses ahead with his plan to revive the company's fortunes.
In his first year on the job, Niccol has zeroed in on investing in Starbucks' stores to reduce service times and restore a coffee house environment, while also trimming management layers.
The company has posted six straight quarters of sales decline in the US as demand for its pricey lattes...
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