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Starbucks Corp (NASDAQ: SBUX) opened slightly in the red this morning after a coalition of unions accused it of a “flawed human capital management strategy”. SOC blasts $SBUX for aggression against unionization Strategic Organisation Center is concerned that “human capital mismanagement” threatens not just the reputation but shareholder returns as well at Starbucks.
The SOC is pushing to replace three members of the Starbucks board, claiming the reputational risk of the union fight has hurt shareholder value.
The union Workers United has organized roughly 400 stores, but is locked in a bitter bargaining fight with the coffee chain.
A coalition of labor groups sent a letter to the Securities and Exchange Commission (SEC) Friday, claiming that Starbucks has failed to disclose to shareholders $240 million in costs and liabilities for “anti-union activity” and unpaid wages, the latest salvo in the fight between organizing employees and the coffee giant.
CNBC's Kate Rogers joins 'Squawk on the Street' to report on Starbucks as the coffee giant has unveiled a new store design focused on accessibility and inclusion.
Countertops are also lower with overhangs, making them more accessible for wheelchair users or customers with service dogs -- part of what Starbucks calls its Inclusive Spaces Framework.
Changes include tweaks to the cafe's lighting and acoustics, as well as lower counters.
Starbucks is planning to open another 10,000 stores by 2030 on top of more than 38,000. Upstart coffee chain Dutch Bros is planning to open another 3,000 stores on top of its 831.
U.S private equity firm Apollo Global Management Inc is in talks to buy a minority stake in the Middle East, North Africa and central Asia Starbucks franchise operated by Kuwait's AlShaya Group, three sources close to the matter said.
Starbucks illegally fired Buffalo-area employees for their unionization efforts and must reinstate them, a National Labor Relations Board administrative law judge ruled—the latest in a long saga of friction between the company and Starbucks Workers United, the union that first organized in Buffalo in 2021 and has since spread to stores across the country.