Starbucks' largest layoffs in company's history. Why is the coffee giant firing 1,100 employees?: 10 point-explainer
Starbucks announced on Monday that it will be laying off 1,100 corporate employees across the globe. Its CEO said in a letter to workers that the coffee giant is sacking 1,100 corporate employees, marking the coffee chain's latest move to restructure amid lackluster sales.
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Starbucks CEO Brian Niccol has vowed to woo back customers who have shied away from $8 lattes and long wait times, which have put pressure on sales in recent months, according to New York Times.
Here are ten things you need to know about Starbucks layoffs
-Starbucks plans to lay off 1,100 corporate employees and close several hundred open or vacant job positions, the company announced on Monday. The layoffs are the largest in the company’s history, according to a report in The Guardian.
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-“Our intent is to operate more efficiently, increase accountability, reduce complexity and drive better integration,” CEO Brian Niccol wrote in a letter to staff. “Our size and structure can slow us down, with too many layers, managers of small teams and roles focused primarily on coordinating work,” Niccol wrote in a letter to employees in January, stating the layoffs would be announced in mid-March.
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