Changes May Be Coming To Starbucks
Starbucks is currently working on expanding in China. But it's the news here in The States that has the business world talking today.
A memo by Starbucks CEO Kevin Johnson suggests that Starbucks is planning a restructuring, which will include leadership changes and some job losses.
The number of layoffs hasn't been disclosed, but the cuts are part of efforts to curb stagnant sales. Sales have been stagnant for a number of reasons, including increased competition and health trends where people are staying away from high-sugar items like frappuccinos.
Starbucks typically closes about 50 stores a year. But it plans to close about 150 stores in 2019...that's 100 more stores than usual. The company's changes are set to begin this week & will continue through November.