Starbucks plans job cuts at the HQ probably starting with senior execs and then spreading to mid manager and staff levels. The hope is that the reorg will improve things from the business side, but we’ll see if that will have ANY impact going forward. Johnson has done it before and will do it again, that’s what he’s good at – cutting cost…
Per his “Building our future together” memo the cuts are starting immediately and going into November – but we’ll see if it stops at that point… There will be leadership cuts, reorgs, moving positions, P&Ls will move, and non-retail partner impacts… I’d say probably 500 folks in Sodo will be impacted… That’s my gut feeling though… Also for the stores (for the guy that was asking about Starbucks Store closures below) the word is that 150 underperforming stores will be closed in the next fiscal year.