Starbucks To Cut 7,000 Jobs And Close 300 Stores

MIAMI - JANUARY 28: Customers relax and drink their beverages at a Starbucks Coffee shop on January 28, 2009 in Miami, Florida. Starbucks will lay off about 700 non-store workers by mid-February, including about 350 at its Seattle headquarters, as part of a reduction of 6,000 positions worldwide over the next eight months. The company also will close about 300 underperforming stores, according to a memo from CEO Howard Schultz. (Photo by Joe Raedle/Getty Images)