Starbucks cuts 300 corporate jobs as it seeks $2B savings
Starbucks is letting go of 300 corporate employees across the US including some at its Seattle headquarters.
This move follows over 2,000 job cuts earlier this year and is part of a bigger plan to save $2 billion over two years.
The company says it's trying to bounce back from slowing sales by rolling out new products and sharpening its marketing.
Starbucks regional offices close, $400 million restructuring
Starbucks will close regional offices in Atlanta, Chicago, Dallas, and Burbank; shifting most affected staff to remote work.
At the same time, it's investing $100 million in the Nashville office for 2,000 employees, thanks in part to Tennessee's lower taxes and location perks.
All these changes will cost Starbucks about $400 million in restructuring charges, including $280 million of non-cash charges tied to a review of Reserve and Roastery store locations and changes to corporate offices, plus $120 million in cash charges mostly linked to employee separation benefits.