Starbucks is set to close multiple stores in the UK and various locations across Europe, the Middle East, Africa, and the US as part of a strategic review. The decision comes after CEO Brian Niccol stated that closures in the US would affect locations where the company cannot meet customer and partner expectations or ensure financial viability, resulting in around 900 job cuts.
The Europe, Middle East, and Africa (EMEA) division echoed similar sentiments, stating that certain stores in the UK, Switzerland, and Austria would be shuttered following a review to optimize store locations and foot traffic. Despite the closures, Starbucks affirmed its commitment to the region with its extensive network of almost 5,000 stores.
Acknowledging the impact on employees, Starbucks emphasized its dedication to supporting affected partners through consultation processes, potential transfers to other stores, enhanced compensation, and wellbeing assistance. The company aims to maintain a resilient business model and create opportunities for partners, suppliers, and communities while projecting positive store growth in the upcoming fiscal year.
Further details regarding the store closures have been requested from Starbucks.
