Starbucks to close stores, cut 900 jobs in $1 billion restructuring
Summary
Starbucks announced it will close some stores and lay off 900 employees as part of a $1 billion restructuring plan. This move comes as the company works to improve after having lower sales for a long time.Key Facts
- Starbucks will close an unspecified number of stores.
- The company plans to lay off 900 employees.
- The restructuring plan will cost $1 billion.
- Starbucks is trying to improve its business after ongoing sales drops.
- This is part of the company's larger turnaround efforts.
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