Starbucks faces fierce competition and expansion jitters as it posts growth targets amid rival chains and drive-thru rivals. (Founded 1971 in Seattle)
Starbucks has announced further corporate layoffs and office consolidations as part of its ongoing turnaround, with about 300 US support roles being eliminated and international support reviewed. The company expects roughly $400 million in restructuring charges, including $120 million in severance, and notes that store operations are unaffected.