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In a letter with ominous undertones, Starbucks (NASDAQ: SBUX) CEO Brian Niccol wrote, “Our size and structure can slow us down, with too many layers, managers of small teams and roles focused primarily on coordinating work.
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Coffee chain Starbucks's promised overhaul may require cutting jobs as it tries to work more efficiently, CEO Brian Niccol said.
“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.
Starbucks CEO Brian Niccol said on Friday the coffee giant will cut jobs to optimize its support teams as part of the company's ongoing turnaround efforts.
Starbucks said it expects to eliminate jobs, without affecting in-store teams, as part of its broader effort to operate more efficiently.
The creator of a fund designed to punish companies engaging in diversity, equity and inclusion activities says the Republican sweep hasn't really deterred companies as much as has been suggested.
In the most recent trading session, Starbucks (SBUX) closed at $93.08, indicating a +0.01% shift from the previous trading day.
A spokesperson for the coffee chain said the new rules are designed to help prioritize paying customers.
SEATTLE--(BUSINESS WIRE)--Starbucks Corporation (Nasdaq: SBUX) plans to release its first quarter fiscal year 2025 financial results after market close on Tuesday, January 28, 2025, with a conference call to follow at 2:00 p.m. Pacific Time. The conference call will be webcast, including closed captioning, and can be accessed on the company's website at https://investor.starbucks.com/. A replay of the webcast will be available on the company's website until the end of day, Friday, March 14, 202.