SEATTLE After booking a near 70-percent drop in first-quarter profit, Starbucks Corp. said Wednesday it would close an additional 300 locations, pull back further on development and reduce its workforce by as many as 6,700 positions this year to become a “leaner and more nimble company.” The company is struggling to cut costs in light of declining store traffic throughout its more than 16,000 locations. Starbucks’ latest moves follow last year’s plans to shutter more than 660 stores ...
Register to view this article
It’s free but we need to know a little about you to continually improve our content.
Registering allows you to unlock a portion of our premium online content. You can access more in-depth stories and analysis, as well as news not found on any other website or any other media outlet. You also get free eNewsletters, blogs, real-time polls, archives and more.
Attention Print Subscribers: While you have already been granted free access to NRN we ask that you register now. We promise it will only take a few minutes!