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(Reuters) – Starbucks Corp (SBUX.O) is planning an organizational restructuring that includes leadership changes, according to a note from chief executive Kevin Johnson.
PHOTO FILE: A flag flies over the company's headquarters, Starbucks Corp opening the first high-end Starbucks Reserve store at Starbucks headquarters in Seattle, Washington, USA on February 27, 2018. REUTERS / David Ryder
"There will be job losses, role extensions and redeployments," a company spokeswoman told Reuters.
The changes come at a time when the world's largest coffee retailer is facing a series of challenges, including a US cooling market and fierce competition from competitors, while embarking on a massive expansion project. in China.
"From next week until mid-November, teams will evolve in size, reach and goals," Johnson said in a memo last week.
Starbucks has had two high-profile outlets since June, including Howard Schultz, its former chief executive, whose departure sparked investor concern over how the company would evolve after nearly four decades of near-constant attendance by Schultz.
Bloomberg had previously reported on organizational reshuffle and layoffs.
Report by Rachit Vats, Soundarya J and Bharath Manjesh in Bengaluru; Edited by Shounak Dasgupta
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