Starbucks Cuts 300 Corporate Jobs, Takes $400M Charge

Starbucks (SBUX) announced the layoff of 300 corporate employees in the U.S., affecting marketing, human resources, and supply chain roles, while sparing coffeehouse staff. This move, part of CEO Niccol's restructuring strategy, will incur a $400 million charge, including a $280 million asset write-down and $120 million in cash severance, according to BeInCrypto. Despite the layoffs, Starbucks' stock rose, reflecting Wall Street's approval of the decision. The company also raised its full-year guidance for same-store sales growth to at least 5%, up from a previous 3% target.