Starbucks is laying off workers and paring back the menu as it tries to turn around its business
CNN
Starbucks announced Monday it will lay off over 1,000 workers and cut complex and unpopular drinks from its menu in an effort to turn around lagging sales and revamp the coffee chain.
Starbucks announced Monday it will lay off over 1,000 workers and cut complex and unpopular drinks from its menu in an effort to turn around lagging sales and revamp the coffee chain. Starbucks is cutting some Frappuccino blended drinks, its Royal English Breakfast Latte and White Hot Chocolate as part of its effort to streamline operations and shrink 30% of its menu. “These items aren’t commonly purchased, can be complex to make, or are like other beverages on our menu,” the company said in a release announcing the menu change. The company is going to cut about 30% of its food and beverage offerings over the next few months as it tries to control costs, Niccol announced on a January earnings call. Starbucks’ iced energy drinks and its controversial olive oil coffees have already been removed from menus. Starbucks also said Monday that it’s cutting around 1,100 corporate jobs. The company is attempting a turnaround under new CEO Brian Niccol. “We are simplifying our structure, removing layers and duplication and creating smaller, more nimble teams. Our intent is to operate more efficiently, increase accountability, reduce complexity and drive better integration,” the company said in a statement.
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