Leo Gillick
Coffee is one of the core fuels of the US. But, despite its economic necessity, international coffee shop Starbucks is closing down more than 400 locations across the country.
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Starbucks has, in recent years, fallen from grace somewhat. People still enjoy their coffee, but a combination of things has drawn people elsewhere. Its stock price has dropped by almost $10 in the last year, and doesn’t look to continue climbing.
Boycotts and Better Choice: Starbucks is the safe, if not rather pricey, go-to for a quick coffee. It’s always the same, slightly burned beans sloshed into a cup the size of a bucket. But there are other options out there now. If people want something a little better tasting and brewed with love, the increase in indie coffee shops provides.
- As well as the variety of readily available coffees come the boycotts. Due to alleged political allegations, many people around the world chose to shop elsewhere. They have somewhat recovered. However, the coffee giant is still having to tighten its belt and shut over 400 locations.
Caffeine Crash
According to their press release, Starbucks will be closing around 400 locations and laying off around 900 corporate employees. The number of people out of a job will number in the thousands when the baristas are left without work.
Quick Closure: The closing of so many of Starbucks’ coffee spots will come quickly for the chain. The desperate bid to save money will be within weeks. They plan to close the locations before the end of the fiscal year. That’s this week.
Although Starbucks pays a minimum wage of $17.50 per hour to its baristas, it’s a far cry from what the CEO earns. It was reported that he earned $95.8 million in 2024, which is a staggering 6,666 times more than the average barista. A suitably satanic number. They could probably save a few Starbucks locations by getting rid of one man.
The well-known coffee shop will be closing numerous locations around the US, but they will hardly be missed. There are around 17,000 Starbucks around the US. It’s hard to walk 100 yards without bumping into one.
