Starbucks to Slash 1,100 Corporate Jobs Amid Turnaround Effort
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Starbucks announced plans to cut 1,100 corporate positions as part of CEO Brian Niccol’s sweeping restructuring initiative. The strategy aims to simplify the company’s organizational structure by reducing layers and duplication, ultimately creating smaller, more agile teams to boost efficiency and accountability.
Niccol, who assumed leadership last year when the company was struggling with a 40% decline in share value, has already set the stage for a turnaround with his "Back to Starbucks" plan. This initiative focuses on streamlining operations and enhancing customer experience at U.S. stores, contributing to a 22% rebound in the company’s shares.
In addition to the job cuts, Starbucks is trimming its menu by discontinuing several underperforming beverages, such as select frappuccino blends and white hot chocolate. The move is designed to simplify the offering while maintaining key hires for priority roles, ensuring that investments in in-store teams and extended hours remain unaffected.
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