Starbucks Heads for Monday Breakout Test After $400 Million Layoffs
Starbucks will cut 300 U.S. corporate jobs and close several regional support offices, part of its “Back to Starbucks” turnaround plan. The company expects $400 million in restructuring charges, mostly non-cash write-downs. Shares closed Friday at $106.82, near a 52-week high, after reporting 6.2% global comparable sales growth last quarter. The cuts do not affect cafe workers.