Coffeehouses – MOSAEC

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.

By Julie Creswell

The term, coined by a sociologist in the 1980s, refers to informal public spaces where people can linger — and some say they’re disappearing.

By Ephrat Livni

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.

By Danielle Kaye

A labor agreement, covering more than 500 U.S. stores, would be the company’s first. Talks stalled last year over wages.

By Danielle Kaye and Rebecca Davis OBrien