News

Starbucks slicing 5 percent of corporate staff

November 14, 2018

Starbucks Corporation, citing streamlining efforts, is cutting 5 percent of its corporate staff and said the layoffs are jobs identified as “deprioritized” within its streamlining strategy.

The news, according to CNBC, which cited a Wall Street Journal report, was announced in a memo issued Tuesday by CEO Kevin Johnson and comes less than two weeks after the coffee brand reported a 3 percent increase in comparable store sales in Q4. As FastCasual.com reported the quarterly performance "reflected meaningful improvement in virtually every critical operating metric compared to Q3."

The corporate layoffs will impact 350 employees, across a range of divisions including marketing, product and technology, according to CNBC. Johnson reportedly said the divisions will see "significant changes."