Starbucks Profit Drops, but Leaders Say Turnaround Is Working

Profit fell 50 percent in the quarter, and the company said one reason was its hiring of additional workers to help its turnaround strategy.

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Starbucks to Lay Off 1,100 Corporate Workers

The jobs cuts, which will affect about 7 percent of the chain’s non-retail staff, are part of its new chief executive’s plan to win back customers.

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Starbucks’ China Problem: Coffee Drinkers Want More for Less

For years, Starbucks was the dominant coffee chain in China. Now rivals offering local flavors and cheaper prices are crushing the company’s bottom line in its second-largest market.

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