Starbucks to close low-performing stores

Starbucks plans to close underperforming stores across North America, reducing its store count by 1% by the end of fiscal 2025, as part of a $1 billion restructuring led by CEO Brian Niccol to address declining sales. The closures include unionized locations, affecting 900 workers amid ongoing union negotiations, while Niccol’s compensation highlights a significant CEO-to-worker pay gap.