- Starbucks on Thursday announced it would close 1% of its corporately owned stores in North America.
- The company will end the year with nearly 18,300 stores in North America, down from 18,424 in 2024.
- In addition to the store closures, Starbucks announced it will lay off 900 non-retail employees.
Starbucks on Thursday announced it would close 1% of its North American stores in addition to sweeping layoffs.
The closures amount to more than 120 shuttered locations where the company has found it is “unable to create the physical environment our customers and partners expect” or where it doesn’t “see a path to financial performance,” according to a statement published by the company.
About 900 non-retail employees will be laid off on Friday, the company announced.
“I believe these steps are necessary to build a better, stronger, and more resilient Starbucks that deepens its impact on the world and creates more opportunities for our partners, suppliers, and the communities we serve,” CEO Brian Niccol said in a statement about the changes.
This is a developing story. Please check back for updates.
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