Starbucks Is Closing Shops and Cutting Costs as Its Turnaround Effort Continues

Cheng Xin / Getty Images Starbucks is closing several U.S. and Canadian locations. Key Takeaways Starbucks is closing dozens of outposts it says won't mesh with a turnaround strategy it launched last September. The company is also laying off 900 white-collar employees so it can cut costs and put resources toward "key areas that drive long-term growth," CEO Brian Niccol said. A year into its turnaround attempt, Starbucks says its strategy won’t work in dozens of its locations—which are now set to clo ...