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Starbucks cuts 100+ stores, offers severance to affected workers amid turnaround effort.
Starbucks is providing severance to retail workers at over 100 closed North American stores, including its Seattle Capitol Hill Roastery, as part of CEO Brian Niccol’s “Back to Starbucks” plan.
Affected employees receive 30 to 84 hours of pay based on role, a lump sum covering three months of health insurance, and three months of continued health coverage.
In nine states, unused vacation pay is also provided.
The closures, part of a 1% location reduction, follow a year of declining sales and a 14% stock drop, with a projected $1 billion cost, $150 million for employee separation.
Transfers to nearby stores are being offered, and workers have 45 days to accept the severance terms.
Starbucks corta más de 100 tiendas, ofrece indemnización a los trabajadores afectados en medio de un esfuerzo de reestructuración.