Starbucks Closings

Yup.

That’s right.

Starbucks is reporting that its profit dropped 69 percent in its fiscal first quarter and it plans to close more stores and cut more jobs.

The company says it will close 300 underperforming stores in addition to the 600 it already planned to close in the U.S.

The closures could result in the loss of 6,000 jobs. Starbucks will also lay off about 700 non-store employees, according to reports.

This follows the recent news that they won’t be making decaf coffee in the afternoon.