• On July 1, 2008, Starbucks announced that it will close 600 stores in the United States that consistently under-perform. Up to 12,000 workers will be laid off by the move.Reuters Starbucks to cut up to 12,000 jobs, close 600 stores (July 1, 2008)

• Fast Facts

  1. Unprofitable Starbucks locations identified in a review focused on "transforming the business for the long-term"NWCN.com: Starbucks to Close 600 stores (July 1, 2008)
  2. Stores to be closed are located in major U.S markets
  3. 70% of closing stores opened after 2006
  4. Closures planned for remainder of 2008 fiscal year and first half of 2009 fiscal year
  5. Plans to open 200 new stores in 2009 in the U.S.
  6. Starbucks owns over 7,000 stores in U.S, over 16,000 worldwide

• CEO Howard Schultz Comment

  "Throughout the history of the company, we have always aspired to put our people first. This makes our decision to close stores difficult, because it is disrupting the lives of the people who have worked so hard to deliver superior service to our customers."NWCN.com: Starbucks to Close 600 stores (July 1, 2008)

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