BUSINESS

Starbucks to close some US and UK stores

Starbucks is cutting approximately 900 US jobs and closing underperforming stores in the US and UK as part of a cost-cutting restructuring. The closures primarily affect North American locations, aiming to reduce wait times and boost sales. This follows February's announcement of 1,100 job cuts and menu simplification. CEO Brian Niccol stated the affected stores failed to meet customer or financial expectations. Despite the closures, Starbucks plans to open 80 new UK stores and 150 across EMEA. The company faces challenges including declining US sales, increased competition, and unionization efforts.

Reviewed by JQJO team

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