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Old 01-28-2009, 03:29 PM
 
Location: Michigan
29,391 posts, read 55,591,550 times
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Coffee retailer's profit dropped 69 percent in its fiscal first quarter.

SEATTLE - Starbucks Corp. said Wednesday that it would cut as many as 6,700 jobs as it closes hundreds more stores and eliminates more positions at its corporate headquarters.

Starbucks to cut 6,700 jobs, close 300 stores - Food Inc.- msnbc.com
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Old 01-28-2009, 06:37 PM
 
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They grew out of control anyways. Their product is overpriced as is. I think mcdonalds drove the nail in their coffin with the 99c iced coffee.
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Old 01-29-2009, 04:45 PM
 
866 posts, read 4,257,730 times
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It's a shame to see this happen to any company, but as said before, Starbucks was growing out of control, with sometimes as many as 3 starbucks in a city of only 10,000!! That's crazy! I would never spend $5 on a cup of coffee ever!

Starbucks must have seen this coming one day.
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