Starbucks CEO Brian Niccol announced job cuts as part of a broader turnaround strategy to address competition and declining demand in the U.S. and China. The cuts, to be revealed by March, won't impact in-store teams or investments in store hours
Starbucks CEO Brian Niccol announced on Friday that the coffee chain will be reducing jobs as part of its efforts to turn the company around. While the specifics of the job cuts will be revealed by early March, Niccol emphasized that in-store teams and investments in store hours would remain unaffected.
Niccol, who previously led Chipotle Mexican Grill and has been in his role at Starbucks for four months, has introduced a series of initiatives to strengthen the business, which has faced challenges due to rising competition and declining demand in both the U.S. and China. "Our size and structure can hinder our progress, with too many layers, small teams, and roles focused mainly on coordination," Niccol said, noting that he will review the structure, role, and size of support teams worldwide.
In October, the company suspended its fiscal year 2025 forecast and outlined plans to revamp its U.S. locations by adding more comfortable seating, ceramic mugs, and a coffee-condiment bar, all while aiming to keep customer wait times under four minutes. Additionally, Starbucks' lead independent director, Mellody Hobson, announced her retirement after nearly two decades with the company.
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Start your day informed with the AnewZ Morning Brief. Here are the top stories for the 5 June, covering the latest developments you need to know.
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