Starbucks slashing 900 jobs, closing hundreds of stores in $1B cost-cutting plan

Starbucks said Thursday it would shutter underperforming stores in North America and cut 900 jobs in a $1 billion restructuring effort, as CEO Brian Niccol presses ahead with his plan to revive the company’s fortunes.In his first year on the job, Niccol has zeroed in on investing in Starbucks’ stores to reduce service times and restore a coffee-house environment, while also trimming management layers.The company has posted six straight quarters of sales decline in the US as demand for its pricey lattes took ...