Starbucks to lay off 300 U.S. employees, close some regional offices
CNBC • • business
Key Points:
- Starbucks announced it will cut 300 U.S. corporate jobs and close some regional support offices as part of its ongoing turnaround efforts, with no impact on coffeehouse employees.
- The restructuring will incur $400 million in charges, including $280 million in noncash asset impairments and $120 million in cash costs related to layoffs.
- This marks the third round of corporate layoffs under CEO Brian Niccol, following cuts of 1,100 jobs in February 2025 and 900 jobs later that year as part of a $1 billion restructuring plan.
- Starbucks has focused on improving its U.S. business by enhancing cafe operations, introducing new menu items, and increasing staffing, resulting in a 7.1% growth in U.S. same-store sales and consecutive quarters of traffic growth.
- CEO Niccol described the recent quarter as a milestone in the company's turnaround, highlighting progress toward durable and profitable growth.