Starbucks Announces Plans To Close 600 Underperforming Stores
SEATTLE – JULY 01: Janice Kim (L) of Seattle and Katie Schaumann, of Minnesota drink Starbucks coffees outside of the flagship Starbucks store at Pike Place July 1, 2008 in Seattle, Washington. Starbucks Corp. announced that it plans to close 600 company-operated stores in the United States which represent about 7 percent of Starbucks’ global workforce, eliminating approximately 12,000 jobs. Citing a slumping economy for the closures, the coffee giant reported a 27.5% drop in quarterly profits in March. (Photo by Melanie Conner/Getty Images)
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