Starbucks To Close 600 Stores, Wiping Out 12,000 Jobs - 07/02/08

Starbucks is closing up nearly 600 shops across the country, a move that would result in the loss of more than 12,000 full and part-time jobs. That size of a cut would amount to 7 percent of the coffee company’s global workforce. Earlier this year, the company had only planned on closing 100 stores. It is also adjusting the number of stores it plans to open in the coming fiscal year, down to 200 stores.