Starbucks is laying off 1,100 corporate employees, roughly 7% of its 16,000-person workforce, aiming to cut costs and improve profitability. The layoffs won’t affect baristas, roasters, or distributors. While job cuts are tough, Wall Street views them positively as they reduce labor expenses. Similar cuts are happening across industries, with Two Buck Chuck’s producer cutting 80 jobs and government sectors facing pressure to reduce costs.
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