Starbucks Global Layoffs and Menu Cuts Announced

Starbucks is set to lay off 1,100 corporate employees globally as part of a strategy by CEO Brian Niccol to streamline operations and enhance efficiency. The layoffs, which do not affect store employees, are accompanied by the removal of several hundred unfilled positions. Niccol, who was hired to address declining sales, aims to simplify the company's structure to improve decision-making and reduce complexity. Additionally, Starbucks plans to cut its menu by 30% to reduce wait times and improve the quality of its offerings. The company has faced challenges with a 2% decline in global same-store sales and increased competition in markets like China. Affected employees will receive severance packages, including pay, healthcare, and career transition services.