Starbucks Plans to Cut 1,100 Corporate Jobs in Major Restructuring ☕️

Starbucks to cut 1,100 corporate roles in CEO Niccol's turnaround push

Starbucks said on Monday, February 24, it would eliminate 1,100 corporate roles as CEO Brian Niccol pushes ahead with his turnaround efforts at the coffee chain that has been struggling with falling sales.

Niccol told employees in a letter they are 'simplifying our structure, removing layers and duplication and creating smaller, more nimble teams' with an intent to operate more efficiently and increase accountability among other goals.

Niccol was named CEO last year at a time when the company's shares had lost 40% of their value from the 2021 high due to weak demand in the US and China and has since put in place "Back to Starbucks" plan that focused on streamlining business through job cuts and by improving customer experience at its US stores.

REUTERS VIDEO

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