July 2, 2008

Starbucks Closing 600 Stores...

Starbucks Corp. has announced it's closing 600 underperforming stores in the United States. The Seattle-based premium coffee company also announced Tuesday it expects to open fewer than 200 new company-operated stores in the United States in fiscal 2009.  
Seattle-based Starbucks did not say which stores will be closed, only that they are spread throughout the country. But it did say 70 percent of those slated for closure had opened after the start of 2006. To put it another way, Starbucks is closing 19 percent of all U.S. company-operated stores that opened in the last two years. 
About 12,000 workers, or 7 percent of Starbucks' global work force, will be affected by the closings, which are expected to take place between late July and the middle of 2009. The company says it will try to place workers from closed stores in remaining Starbucks.
This is sad news.  I do not approve of this!  Two of the Starbucks that I frequent were recently opened after 2006.  They're both very close to my house.  And now you're telling me that they might be shutting down?  Where will I get my grande, non-fat, peppermint mocha with whip?! I need answers!  We seriously need to pray that this economy gets back on track and fast.

1 comment:

  1. I knew this was coming...no need to have an over priced coffee shop on every corner...yet we want to call Wal-mart evil...ok, done with my daily rant.