Saturday, January 24, 2009

The Cut Continues to Bleed...

Report from Reuters
Coffee chain Starbucks Corp could cut another 1,000 jobs in the coming weeks, according to a report in the Seattle Times on Saturday.
The latest cuts could include employees at its Seattle headquarters, district managers and field employees but not the so-called baristas, who serve customers, said the report, which cited a client note from an analyst at McAdams Wright Ragen.
A Starbucks spokeswoman declined to comment.
The coffee chain, which has been fighting to revive growth in the United States, is closing 600 cafes and has already trimmed jobs in stores and at headquarters.
The company is scheduled to release its first-quarter financial results on Wednesday.

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