Starbucks is closing 250 stores. Read the memo it sent to staff.
The closures comes as Starbucks pushes hard to bring customers back into stores and returns to its core coffee offering.
Starbucks has announced plans to close approximately 250 underperforming coffeehouses in North America. This decision follows a review of their store portfolio, as stated in a memo from COO Mike Grams to staff. The closures account for around 1% of Starbucks' more than 18,000 locations in the region. The company aims to offer affected employees transfer opportunities and severance pay when necessary.
Starbucks is focusing on its "Back to Starbucks" turnaround strategy, which includes upgrading 1,500 stores to improve customer experience and service. The company remains committed to opening new coffeehouses in North America despite the closures. CEO Mike Grams expressed gratitude for the partners' efforts and assured support during the transition.
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