Starbucks to cut 6,700 jobs, close 300 stores
 

No surprise here...

http://www.msnbc.msn.com/id/28898855

interesting quote from the article tho

"Starbucks also said its Chief Executive Howard Schultz will be paid just $10,000 in base salary for fiscal 2009, including health insurance and other benefits. His salary was $1.2 million in 2008. "

those poor people it sucks,its like where are they going to go?

Blah blah, lip service, blah blah, looks good to people, blah blah, tax break, blah blah, stock options instead.

Wait are you being serious?

I did a research article about them last semester.. and it seems that their newer stores always generate new revenue at high peak levels.. that people get tired of the old stores.. stop going.. then when a new one pops up a mile away.. they start going again....

And they had so much cash flow before, that financially it made sense to keep doing that.. to keep the people addicted.. to keep recycling customers and getting them into the store..

But I think now, with the economy, their profit margin isn't high enough to be doing that anymore...

A LOT of the stores deserve to be closed.. but God, those poor people.

BaristaSluts.com available? lol

Layoff and closure announcements in my area are insane the past few days..

Microsoft says 5000 people in the next year
Boeing just announced 10,000
Weyerhauser just shut down to plants
Frank Russell Company (international investments) just a 25% decrease in staffing
and now Starbucks..

They'd better not close my local store with a drive thru ;)

:2 cents::2 cents::2 cents:

I think with companies like Starbucks and Home Depot part of it is the economy and part of it is just that they over-expanded. I live in a small town and we have three Starbucks. One is in a grocery store and there is another out in the parking lot then a drive through about a mile away from that. That might be two starbucks too many. They probably should have just made 1 that had a place to sit and relax and also had a drive through.

It was bound to happen..

Sort of off topic but if you really like iced coffee try this.

Take like a third of a cup of medium coarse grind coffee. Add in like one and a half cups water (doesnt need heat). Stir it up. Let sit overnight. Strain. Mix with equal amounts of water. Add ice or milk, etc.

coffee reccesion