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Starbucks details corporate job cuts

Published 11/13/2018, 01:08 PM
© Reuters.  Starbucks details corporate job cuts
SBUX
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  • Starbucks (NASDAQ:SBUX) says it will lay off about 350 corporate employees in order to become nimble and focus on fewer priorities. The cuts amount to about 5% of its corporate workforce, while no store employees will be impacted.
  • CEO Kevin Johnson tipped off the coming job eliminations in a memo sent to employees in September.
  • Shares of SBUX are down 0.22% on the day. Over the last 90 days, Starbucks has rallied 28%.
  • Previously: Starbucks expected to lay off 5% of corporate workers (Nov. 13)
  • Now read: Starbucks expected to lay off 5% of corporate workers


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