00:00Starbucks announced another round of corporate layoffs last Friday, cutting 300 U.S. jobs and shuttering several regional support offices
00:08with the company, saying the combined restructuring will result in charges of $400 million.
00:14The impacted roles span all corporate divisions, and while Starbucks will close offices in Chicago, Atlanta, and Burbank, no coffeehouse
00:22jobs are being affected.
00:23This marks the third round of layoffs under CEO Brian Nichols since he took the helm following roughly 2,000
00:30cuts last year under a $1 billion restructuring plan.
00:34Despite the cuts, Starbucks posted strong second-quarter growth with the U.S. same-store sales of 7.1 percent
00:41and two consecutive quarters of traffic growth, suggesting the turnaround strategy is gaining traction.
00:46The company is also reviewing its international corporate workforce, so more job cuts could be on the way beyond what
00:53was announced on Friday.
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