STARBUCKS Lay Offs

Starbucks Corp. SBUX -0.78% is planning to lay off approximately 5% of its global corporate workforce as it seeks to become a more nimble company.

The plan comes as the Seattle-based chain struggles to attract new and repeat customers to its U.S. coffee shops amid a highly competitive coffee market.

The company on Tuesday said it will lay off 350 employees. That number doesn’t include any employees who work in its cafes. In a memo sent to employees on Tuesday, Chief Executive Kevin Johnson said the areas impacted include marketing, creative, product, technology and store development. Employees were being informed of the job cuts on Tuesday.

Mr. Johnson said the change was aimed at focusing on fewer priorities and changing the way the various teams work. “The job impacts announced today are the most significant in this transformation,” the company said.

www.wsj.com/articles/starbucks-to-lay-off-5-of-corporate-workforce-1542130200

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