Overview
- Starbucks says closures start immediately, with affected baristas offered transfers where possible or severance, and notifications underway this week.
- The company expects to finish fiscal 2025 with nearly 18,300 U.S. and Canadian locations, reflecting a net reduction of about 1% from recent counts.
- Restructuring charges are estimated at roughly $1 billion, including about $150 million for separation benefits and around $850 million for lease exits and asset write-downs.
- About 900 corporate and support roles are being eliminated, with affected employees notified Friday after a work-from-home directive during the transition.
- No full closure list has been released; early shutdowns include Seattle’s Pike Place Reserve Roastery, and Starbucks Workers United says it will seek bargaining at unionized stores.