LOS ANGELES, Jan 24 (Reuters) - Coffee chain Starbucks Corp could cut another 1,000 jobs in the coming weeks, according to a report in the Seattle Times on Saturday.
The latest cuts could include employees at its Seattle headquarters, district managers and field employees but not the so-called baristas, who serve customers, said the report, which cited a client note from an analyst at McAdams Wright Ragen.
A Starbucks representative was not immediately available for comment.
The coffee chain, which has been fighting to revive growth in the United States, is closing 600 cafes and has already trimmed jobs in stores and at headquarters.
The company is scheduled to release its first-quarter financial results on Wednesday.
Starbucks said this week its top executives did not receive bonuses in 2008 and that Chief Executive Howard Schultz and other top managers will not get base salary raises in fiscal 2009.
Schultz also will not participate in Starbucks' executive management bonus plan in fiscal 2009.
The company recently told employees that it will not guarantee matching contributions to their 401(k) retirement plans this year.
(Reporting by Lisa Baertlein, editing by Patricia Zengerle) Keywords: STARBUCKS/ (lisa.baertlein@thomsonreuters.com; +1 213 955 6742; Reuters Messaging: lisa.baertlein.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
The latest cuts could include employees at its Seattle headquarters, district managers and field employees but not the so-called baristas, who serve customers, said the report, which cited a client note from an analyst at McAdams Wright Ragen.
A Starbucks representative was not immediately available for comment.
The coffee chain, which has been fighting to revive growth in the United States, is closing 600 cafes and has already trimmed jobs in stores and at headquarters.
The company is scheduled to release its first-quarter financial results on Wednesday.
Starbucks said this week its top executives did not receive bonuses in 2008 and that Chief Executive Howard Schultz and other top managers will not get base salary raises in fiscal 2009.
Schultz also will not participate in Starbucks' executive management bonus plan in fiscal 2009.
The company recently told employees that it will not guarantee matching contributions to their 401(k) retirement plans this year.
(Reporting by Lisa Baertlein, editing by Patricia Zengerle) Keywords: STARBUCKS/ (lisa.baertlein@thomsonreuters.com; +1 213 955 6742; Reuters Messaging: lisa.baertlein.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.