Starbucks axes some drinks and staff in bid for US turnaround
Published On Feb 24, 2025, 11:32 AM
Starbucks is cutting 1,100 corporate jobs and plans to reduce its menu by about a third to simplify offerings and improve business performance in the US, where transactions have declined by 8% in the most recent quarter. The company aims to focus on popular items, enhance efficiency, and reduce wait times.
Stock Forecasts
SBUX
Negative
Starbucks is attempting to streamline operations and return to its core identity as a coffee company, which may improve profitability in the long run if successful. However, ongoing challenges such as declining sales and market perception issues pose risks.
Related News
Starbucks to lay off over 1,000 corporate workers
Feb 24, 2025, 9:04 AM
Starbucks announced it was laying off over 1,000 corporate workers as it tries to simplify operations as part of its "Back to Starbucks" turnaround plan.
Coffee is in a 'perfect price storm' — and it's finally starting to hit your wallet
Feb 16, 2025, 11:12 AM
The Consumer Price Index report released Wednesday showed that the prices consumers paid for roasted coffee rose 2.5% in January over the previous year, while instant coffee jumped 7.1%.
Americans' Super Bowl spending to rise despite inflation worries
Feb 8, 2025, 8:58 AM
American households' spending on Super Bowl festivities is expected to rise, even as a greater share of Americans say they want to spend less, a new study found.