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Starbucks to Close Stores, Fire 12,000 Employees
By
John Del Signore
Published Jul 2, 2008
Modified Jul 2, 2008
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By
John Del Signore
Published Jul 2, 2008
Modified Jul 2, 2008
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Starbucks has announced it's closing 600 stores in the U.S., bringing the total number down to approximately 9 gazillion, most of them located in Astor Place. Stocks have fallen 24% so far this year, and its second quarter was its weakest as a public company. The Seattle-based chain says it will try to relocate employees to other stores, but thousands of layoffs loom. Financial analyst Sharon Zackfia tells the Times, “I don’t think it’s overly surprising. These stores were in aggregate unprofitable.” No word yet on how many NYC Starbucks locations will close, but one hopes it’s kept to a minimum, because where else will we use the bathroom?
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John Del Signore
Originally from the Albany area, John Del Signore has called NYC home since 1995. In addition to his thousands of meticulously-crafted bespoke blog posts for Gothamist, his writing has also been published in The Awl, Deadspin, The Nervous Breakdown, and performed at The Brick Theater in Brooklyn.
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Gothamist is funded by sponsors and member donations
Gothamist is funded by sponsors and member donations
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