Starbucks closing stores???
Written by leonwestbrook on July 1st, 2008
Starbucks Corp. said Tuesday that it had drastically increased the number of stores it plans to close and could eliminate as many as 12,000 full- and part-time positions as a result.The company said it now plans to close 600 company-operated stores in the United States, up from its previous plans to close 100 stores. The company also said it now plans to open fewer than 200 stores in its coming fiscal year, which begins Sept. 29.In a filing with the Securities and Exchange Commission, the company said the job cuts represent about 7 percent of Starbucks’ global workforce. Still, Starbucks said it expects many workers to find jobs in nearby stores.
Hmmm…maybe because of opening too many damn stores you have to close them. Especially the ones across the street from each other.
[From MSNBC]
