STARBUCKS CLOSINGS

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STARBUCKS CLOSINGS

Fred Smith

Along with their cup of joe... Starbucks customers are getting some surprising News. "Wow." It seems people are buying fewer tall, grande, and venti lattes and other Drinks... So starbucks is scaling down. The famous coffee chain is closing 600 under-performing stores nation-wide. "I think everybody is closing, there, you know with the economy and everything else, you know." "They got good coffee, so I don't know why they would be closing them." In a statement on the company's website, the head of starbucks says: "By far, this is the most angst-ridden decision we have made in my more than 25 Years with starbucks" Starbucks cut about 600 positions in february-- and now as many as 12-thousand Employees could lose their jobs... But the seattle-based company says it will try to find other positions for them Within the corporation. Starbuck's stock is down by 40-percent over the past year, a sign the company's Financial problems have been brewing for some time. Now starbucks hopes that if it downsizes now it can weather these tough Economic times and grow later on in the future. In washington, i'm sandra endo.

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