Bitter Cuts at the Coffee Giant! Starbucks Sacrifices Another 250 Locations for the Turnaround!
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Portfolio Clean-up: Closure of approximately 250 unprofitable locations in North America with restructuring costs of 300 million USD India Capacities & Asset-Light: Establishment of a tech hub in Chennai with 800 positions and a deeper restructuring of the Asia structure Realignment: 1 billion USD heavy redesign to create inviting seating areas instead of mere pickup stations As part of the Back to Starbucks strategy (i)(SBUX), CEO Brian Niccol is making significant changes. COO Mike Grams emphasized in a message to employees: "We...
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