The layoffs according to Chief Executive Officer Laxman Narasimhan, is a strategic pivot aimed at improving the company's financial health (Image source: Unsplash) Show Quick Read Summary is AI Generated. Newsroom Reviewed

Starbucks is planning a major organizational restructuring that includes laying off approximately 900 nonretail employees in the coming weeks and closing hundreds of underperforming stores across the US, Canada, and Europe, according to the Associated Press.

In a communication to staff, CEO Laxman Narasimhan confirmed the job cuts will affect roles outside of the stores and stated the company is prioritizing streamlining its operations and improving financial performance in a challenging economic climate.

"The company wouldn’t give a number of stores that are clo

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