Starbucks announced today that it plans to close 300 more company-run locations this year. This comes in addition to the 600 locations it planned to close last year. Out of the chain’s approximately 11,434 retail locations, 7.8 percent of them will have shut down this year after the quarterly revenue fell 5.5 percent from one year ago. Say what you will about the coffee retailer, a cutback that big has to hurt.
While today’s announcement estimates about 6,000 people put out of work in actual stores and 700 in corporate offices, Starbucks is also one of the largest companies to offer health insurance to part-time workers.
