So, Starbucks is going to close 300 stores and lay off 6,700 workers. When times are tough, the first thing to go is a $4 cup of coffee.
I do appreciate that the CEO is taking a $1,990,000 pay cut:
Mr. Schultz has asked for his salary to be cut to less than $10,000 – from more than $1.2m previously – and the company is selling two of its three corporate jets, including a Gulfstream 500 delivered in December.
But, hey let’s not go too far. Everyone should have at least one private jet on hand.