Starbucks cuts 600 jobs amid stagnant U.S. growth

Starbucks cuts 600 jobs amid stagnant U.S. growth

www.reuters.com

LOS ANGELES (Reuters) - Starbucks Corp (SBUX.O: Quote, Profile, Research) said on Thursday it would eliminate 600 jobs as it works to turn around stagnating U.S. coffee shops in the face of a weak economy.

The coffee seller has been battered in recent months by slower consumer spending, higher milk and labor costs and concerns that it may have saturated its domestic market.

(visit the link for the full news article)


Related News Links:
www.bloomberg.com
www.thenewstribune.com

Well, when your cup of coffee costs more than your gallon of gas you know there's a problem. There's nearly a Starbucks on every corner but in my area, many of the people I know have begun to frequent a local competitor called "Satellite Coffee."

I think their concerns that they may have "saturated" the domestic market is an understatement.

Just one more company to add to the ever growing list of companies that are eliminating jobs. I wonder what jobs they are eliminating?

www.reuters.com
(visit the link for the full news article)

Starbucks has been a bubble all on its own.I don't the economy or anything else caused there bubble to pop.Fads don't last forever, but i guess buy useing the excuse of the bad economy might get them a extra tax right off or maybe even a bail out from our goverment.You know how they love to bail out big corporations.