BUZZ-Starbucks to eliminate 1,100 corporate roles as part of CEO's turnaround efforts; shares up
ReutersFeb 24, 2025 4:27 PM
Shares of Starbucks SBUX.O rise as much as 1.5% to $113.48
Co says it will eliminate 1,100 corporate roles as part of CEO Brian Niccol's turnaround efforts
"We are simplifying our structure, removing layers and duplication and creating smaller, more nimble teams," Niccol says
Says the action will not affect in-store teams
Adds co will continue to hire for priority positions
Separately, co says it is removing few less-popular beverages, in line with Niccol's plans to simplify menu
SBUX fell 5% in 2024
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