Starbucks CEO Brian Niccol announced plans Thursday to close hundreds of stores and undergo a second round of layoffs this year in an effort to revive the coffeehouse chain.

As part of CEO Brian Niccol's 'Back to Starbucks' strategy, the company will cut 900 non-retail jobs and close some underperforming coffee houses.

The coffee chain is restructuring to save money by closing its worst performing stores.

The coffee chain operates around 520 company-owned stores in the UK