Starbucks Corp. is planning an organizational shake-up, including corporate layoffs that will start at top levels, as the coffee chain tries to reverse stagnant sales and rekindle investors’ interest.
“We must increase the velocity of innovation that is relevant to our customers, inspires our partners, and is meaningful to our business,” Chief Executive Officer Kevin Johnson said in a memo to employees viewed by Bloomberg News. “To accomplish this, we are going to make some significant changes to how we work as leaders in all areas of the company.”
