Starbucks 1Q profit down 69 pct, shuts more stores
PostedbyChris BenjamininUncategorizedonJan 29th, 2009 | 0 comments
Starbucks Corp. said nearly 7,000 employees may lose their jobs due to a new round of store closures and cost cuts as it reported Wednesday that its profit dropped 69 percent in its fiscal first quarter.
The company plans to close 300 underperforming stores around the world by the end of the fiscal year in addition to the 600 it already planned to close in the U.S. The company has already closed 384 of those stores.
The additional closures could result in the loss of 6,000 in-store jobs. Starbucks also plans to lay off about 700 non-store employees.
See the full article at Yahoo News.
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Starbucks 1Q profit down 69 pct, shuts more stores
PostedbyChris BenjamininUncategorizedonJan 29th, 2009 | 0 comments Starbucks Corp. said nearly 7,000 employees may lose their jobs due to a new round of store closures and cost cuts as it reported Wednesday that its profit dropped 69 percent in its fiscal first quarter.
The company plans to close 300 underperforming stores around the world by the end of the fiscal year in addition to the 600 it already planned to close in the U.S. The company has already closed 384 of those stores.
The additional closures could result in the loss of 6,000 in-store jobs. Starbucks also plans to lay off about 700 non-store employees.
See the full article at Yahoo News.
Related posts:
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