Starbucks to Close Underperforming U.S. Stores, Lay Off 900 Employees
Starbucks is streamlining its U.S. operations. The coffee giant is set to close underperforming stores and lay off 900 non-retail employees. CEO Brian Niccol announced the move in a letter.
Starbucks expects to end the year with 18,300 stores in the U.S., a slight decline from 2024. The exact locations of the closing stores have not been publicly disclosed. The company has announced hundreds of closures across the US and Canada as part of a $1 billion restructuring plan.
Workers being laid off will receive severance and support packages. The company plans to close an undetermined number of U.S. stores in the coming days.
Starbucks is focusing on improving its underperforming stores and reducing its workforce by 900 non-retail employees. The closures and layoffs are part of a larger restructuring plan aimed at enhancing the company's performance.
