Starbucks Corporation is a global coffeehouse chain that specializes in the production and retail of high-quality coffee beverages, teas, and a variety of food items
Founded in Seattle, the company has expanded its presence worldwide, creating a distinctive café experience characterized by its inviting ambiance and commitment to customer service. Starbucks is also known for its commitment to sustainability, ethically sourcing its coffee beans, and engaging in various community initiatives. In addition to traditional store locations, the company has developed a robust digital platform for mobile orders and a loyalty rewards program, enhancing customer convenience and fostering brand loyalty.
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Starbucks shares are trading lower Thursday following reports suggesting the company is reorganizing to hold leadership more accountable for financial and operational improvements.
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Starbucks is streamlining operations as part of its "Back to Starbucks" initiative. The company will eliminate 1,100 support roles and several hundred open positions.
