Growth Club
1851 Growth Club
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Starbucks Eliminates 5% of Corporate Team
Following a slump in foot traffic and Frappuccino sales, the brand is eliminating over 300 roles. This will not impact jobs at a store level.
Starbucks has announced that it has cut roughly 350 positions from its corporate workforce. According to a recent article in Nation's Restaurant News, the roles that were impacted were within the marketing, creative, product, technology and store development departments. This round of cuts follows a year of declining foot traffic for the brand and dip in sales for its signature Frappuccino drinks.
“Building the next chapter of Starbucks requires us to focus on fewer priorities and transform how our functional teams work in order to accelerate the velocity of innovation that is relevant to our customers, inspiring to our partners [employees], and meaningful to our business,” said CEO Kevin Johnson.
Read the full article here.
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