Starbucks Closing 600 Cafes
Starbucks Corp. announced plans to close 600 stores this year, affecting 12,000 employees, or 7% of it’s total work force. The tough economy is hitting the company hard, as people are not splurging on expensive coffee drinks like they once were. MSN has more on the story here, and here.
I had heart surgery a few months ago and there was a Starbucks inside the hospital and another one directly across the street! In some cities you can walk for miles without losing sight of a Starbucks. It’s time they cut back on unprofitable stores and returned their focus to quality.
I’m sure Dunkin Donuts and McDonalds starting to do the ‘premium’ coffee thing has hurt Starbucks as well.
It also doesn’t help that Starbucks coffee seems to have a burnt taste no matter where you get it.