Starbucks Corp. said Tuesday it will close 600 company-operated stores in the next year, up dramatically from its previous plan for 100 closures, a sign the coffee shop operator continues to struggle with the faltering U.S. economy and its own rapid expansion.
Seventy per cent of the stores slated for closure had opened after the start of 2006, the company said in a statement.
About 12,000 workers, or seven per cent of Starbucks' global work force, will be affected by the closings, which are expected to take place between late July and the middle of 2009, spokeswoman Valerie O'Neil said.
FULL STORY
Are there too many coffee shops?
More...
Seventy per cent of the stores slated for closure had opened after the start of 2006, the company said in a statement.
About 12,000 workers, or seven per cent of Starbucks' global work force, will be affected by the closings, which are expected to take place between late July and the middle of 2009, spokeswoman Valerie O'Neil said.
FULL STORY
Are there too many coffee shops?
More...
