Following announcements of layoffs, a Starbucks store is shown in Encinitas, California, U.S., February 24, 2025.
Mike Blake | Reuters
Starbucks said on Thursday it has approved a restructuring plan involving the closure of underperforming coffee houses as the company looks to revive sales and profits under CEO Brian Niccol.
The company expects to incur about $1 billion in costs under the restructuring plan, it said in a regulatory filing.
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