Main | Wednesday, July 02, 2008

Starbucks To Close 600 Outlets

Oh no! Now you'll have to walk two blocks to find one!
As many as 12,000 Starbucks workers will lose their jobs when the company begins closing 600 U.S. stores this summer. The Seattle coffee company is cutting 5 percent of its U.S. locations as part of a wide-ranging effort to boost its bottom line and its stock price. The chain is accelerating international growth. Most customers whose Starbucks stores close will be a short walk from a caffeine fix, the company said, because many of the unprofitable stores were being cannibalized by nearby Starbucks locations.

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