The Latest Breaking News from Brian Niccol

Starbucks shutters 430 stores, cuts 1,900 jobs, and spends £820 million to fix declining profits and poor customer experience.

Starbucks is closing hundreds of stores and cutting 900 jobs as part of a $1 billion plan to improve its business.

The company will eliminate about 900 more non-retail partner roles and many open positions.

Starbucks CEO Brian Niccol is under scrutiny after axing 900 jobs and closing stores while pouring $1bn into café renovations, sparking union backlash and investor questions about the company's strategy.

The Starbucks workers’ union is not happy with the plan, which also includes store closures and hundreds of layoffs.

Restructuring comes after six quarters of falling sales and growing pressure from unions over working conditions

Starbucks CEO Brian Niccol said employees affected by the latest layoffs will receive ‘generous’ severance packages

The US coffee chain has launched a consultation over the proposed closures, putting jobs at risk, but has not revealed how many stores may be shut.

Coffeehouse chain Starbucks Corp. (NASDAQ: SBUX) is facing stiff competition in China, and its stock remains under pressure, marking a sharp divergence from its China-based arch-rival, Luckin Coffee Inc. (OTC: LKNCY), which has been soaring and hitting new highs throughout this past year.

The company did not say how many stores it planned to close.

Starbucks Corp. (NASDAQ:SBUX) is shifting its food strategy to appeal to health-conscious consumers, expanding protein and gluten-free options while emphasizing artisanal, premium offerings.