Starbucks slashing 900 jobs, closing hundreds of stores in $1B cost-cutting plan
1. Starbucks plans to close underperforming stores and cut 900 jobs. 2. CEO Niccol aims to enhance store environment and improve service times. 3. Brand has seen six quarters of declining sales due to tough competition. 4. Job cuts will mostly affect non-coffee-house roles and open positions. 5. Starbucks stock increased 9% since Niccol's appointment in August.