Starbucks In Trouble!

Today Starbucks Corp. released 1st quarter profits, which where down almost 70 percent. That’s a huge percent to be down, that’s almost bankruptcy, which I’m sure will happen in a few months. There’s no way Starbucks can continue to offer $4.00 cups of coffee and stay in business. Most of their customers are the ones losing their jobs. And most of the other people like me are heading to McDonalds for the same crap. Heck, I can’t even remember the last time I purchased a cup of coffee.

Anyway, Starbucks is closing another 300 hundred stores on top of their 600 already planed. Their stating that this will result in about 6000 retail jobs lost and about 700 office jobs. I read that this cut will save them about $500 million this year. Hopefully they will be able to transfer some of those employees across the street to their other store, you know what I mean, and it’s true.

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This entry was posted on Wednesday, January 28th, 2009 at 11:39 pm and is filed under Business, Careers, Economy, General Info, Stocks. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.