Starbucks Slashes 600 Jobs

Starbucks Corp said on Thursday it would eliminate 600 jobs as it works to cut costs and reignite growth.

The coffee seller has been battered in recent months by slower consumer spending, higher milk and labor costs and concerns that it may have saturated its domestic market.

Shares in Starbucks were down 2.3 percent, or 41 cents, to $17.85 on the Nasdaq.

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The Wall Street Journal additionally reports:

The Seattle company said that 220 people lost their jobs in the restructuring. The remaining 380 jobs are open positions that won't be filled. The cuts are happening in Starbucks's so-called field operations, or offices that support Starbucks cafes, and won't result in job losses at the retail stores. Nearly all of the jobs are based in the U.S. Starbucks employs about 170,000 people.

"We have to step up to the challenge of being strategic as well as nimble as our business evolves," Starbucks Chairman Howard Schultz said in an email to employees. The company also increased by two the number of regional divisions it has in the U.S., for a total of four.

Comments

[Tabasco]

"Starbucks Slashes 600 Jobs"

But. But.....

Where will I get my 1/2 caf-venti-mocha-latte-double-shot-with-a-twist-of-lime-and-soy-milk from now on????

[OrangeSam]

I can't resist: Is Starbucks finally running out of steam?

[WIpatriot]

If you don't like their coffee, don't buy it. It's that simple. Oh, you're not? Well, that explains it, then....

[BigBagel]

Only schmucks pay $4.50 for a cup of coffee.

[lacitepq]

Starbucks "Slashes" 600 Jobs. The word slash conjures up something very drastic. Are 600 positions (given the total of all Starbucks employees) that signficant? About 1/2 of them were open/unfilled positions anyways. Another non-story. Yawn

[Dendroica]

These aren't "jobs" in the strictest sense, they are management positions.

And to be really truthful, management doesn't put coffee in your cup. They just find more and innovative ways to fuck things up.

[ming099]

.....7-11.....best coffee in America......

[MajorKong]

Maybe we really didn't need the Starbucks directly across the street from the other Starbucks?

[Tom95134]

Maybe you don't really need a $4.50 cup of coffee.

[Shaddup]

Um, in case anyone's noticed, a cup of Starbucks coffee and some hot milk costs roughly 6.00 -- that's a hella lot to the lot of us who live paycheck to paycheck. C'mon, it's a frickin' cup of joe for crissakes!

[davesideas]

huh? where do you live buddy? not to defend starbucks, but try $1.80 for a cup of coffee. Can't fault a business for trying to make a go of it, now, can we?

[davesideas]

way too much coffee today...

[mrcontinental]

Profits uber alles!

[BeyondGoodAndEvil]

Starbucks coffee is horrible. Only in America could people get sucked into consuming weak and unpleasant tasting coffee. I have to order a triple shot to make it strong enough to be worthwhile consuming, and then add sugar to balance the bitterness and vile taste. It's horrible coffee, and the beans they use are third or fourth rate at best.

[Tom95134]

Try Peet's. That's a coffee that will put hair on your chest.

They also have some great teas that will give you a real buzz.

[strifeknot]

Peet's is the best.

[realitytrumpsbull]

Better voluntarily than otherwise...best way to land a plane is while there's still fuel in the wings...the other way...well, it kind of sucks.
Speaking OF airplanes, though, I was reading about another dead doctor found in the smoking crater of what used to be his airplane, and remembered that they had some kind of thing where they could attach a cargo chute TO the airplane, giving the operator an 'oh shit' handle...there was a book called 'what color is your parachute', maybe it should have been 'what color is your COMPANY's parachute'??
Hmmm...

[ming099]

.......WTF????........