massive STARBUCKS LAYOFF: STARBUCKS to LAYOFF 6000 +1000 close 300 stores

Starbucks Job Layoff updated again on January 28 2009.

Starbucks Job Layoff
Coffee giant Starbucks had originally announced job lay off around 1000 jobs. Just days after this announcement, starbucks has made announcement of closure of 300 underperforming stores which would result in job cuts of about 6000 employees. Further, it would also layoff 700 non-store employees. Of these 700 layoffs, half will be at the company's support center in Seattle. The 300 underperforming stores being closed are in addition to closure of 600 stores announced in July 2008.

Reasons for Starbucks Job Layoff
Starbucks is facing a significant slowdown in demand. The company witnessed fall of 69% of net profit in the fourth quarter of 2008 as compared to the same quarter in the previous year.

Read more about Starbucks layoff on nytimes.

Jan 25, 2009

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