Joining major companies cutting jobs as recession deepens, popular coffee giant Starbucks plans to lay off thousands of employees in the coming months.
Starbucks, which has reported a 69 per cent drop in profit for the first fiscal quarter, has announced slashing its headcount by 6,000 and closing 300 stores, worldwide.
Image: Starbucks merchandise, displaying an updated version of the original Starbucks mermaid logo. | Photograph: Marcus R Donner/Reuters
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