Starbucks slashing 900 jobs, closing hundreds of stores in $1B cost-cutting plan
1. Starbucks to close underperforming stores and cut 900 jobs. 2. CEO Niccol focuses on service improvement and store environment. 3. Six consecutive US sales declines noted as consumer preferences shift. 4. Total store closures expected to reduce US locations by 1%. 5. Starbucks shares rose 9% since Niccol's leadership began.