Starbucks will close about 250 locations in the coming days

Starbucks will close about 250 locations in the coming days. CNN reported this.

The company justified this decision by the fact that these points either “do not provide the desired level of service to customers and partners” or are financially unprofitable. In total, 1 percent of the total number of Starbucks stores in North America will be closed. In total there are about 18 thousand.

A year ago, Starbucks CEO Brian Niccol announced the closure of a similar number of locations, as well as staff reductions. The company is projected to face losses of about $300 million related to the store closures, of which $200 million comes from the early termination of leases and employee severance payments.