Starbucks is laying off 300 U.S. corporate employees in its regional support offices. The company announced the move as part of a plan to return to "durable, profitable growth."
Offices in Atlanta, Burbank, Chicago, and Dallas will close. International support offices are also under review, with more cuts expected outside the U.S.
The layoffs aim to "sharpen focus, prioritize work, reduce complexity, and lower costs." Coffeehouses will not be affected.
Starbucks expects to pay $120 million in severance. The book value of some real estate is reduced by $280 million.
