By Courtney Dentch
Jan. 28 (Bloomberg) — Starbucks Corp., the world’s largest chain of coffee shops, said it will cut 6,700 jobs and close 300 more stores after reporting first-quarter profit that fell more than analysts estimated.
The company plans to close 200 locations in the U.S. and 100 overseas, in addition to the 600 Starbucks said it would close last year. The workforce reduction will eliminate 6,000 cafe positions and 700 corporate jobs, the Seattle-based chain said today in a statement.
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