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Starbucks
on Friday announced another round of corporate layoffs and said it plans to shutter some regional support offices as part of its ongoing turnaround.
The company said it will cut 300 U.S. jobs, adding it has started a review of its international corporate workforce. The layoffs do not affect its coffeehouse employees.
The combined severance costs and reassessment of its office space will result in restructuring charges of $400 million, the coffee chain said. Starbucks expects to record $280 million in noncash charges related to the impairment of long-lived assets and $120 million in cash charges tied to the job cuts.
