Starbucks set to close stores, slash 900 jobs in restructuring plan

Starbucks (SBUX) announced plans to close unprofitable locations and cut corporate jobs as CEO Brian Niccol focuses on the company's turnaround plan. In a letter posted to its blog and sent to employees on Thursday, Niccol shared that the company plans to reduce its store count by roughly 1% in Canada and the US this fiscal year. By year-end, the total company-operated and licensed stores across the US and Canada will be nearly 18,300. As of Q3, there were 18,842 locations in North America. Starbucks wil ...