11:37 AM EDT, 05/15/2026 (MT Newswires) -- Starbucks (SBUX) said Friday that it will cut 300 US support jobs as the coffee giant consolidates regional offices to reduce costs and streamline operations.

The company launched its "Back to Starbucks"strategy in September 2024 to revive traffic growth and support long-term margin expansion.

Starbucks'fiscal second-quarter results exceeded Wall Street's views last month, while it raised its full-year outlook on the back of momentum in its turnaround efforts.

"We are taking further action under the Back to Starbucks strategy, building on our strong business momentum and working to return the company to durable, profitable growth,"a Starbucks spokesperson told MT Newswires in an emailed statement. "Leaders have taken a hard look at their respective functions to further sharpen focus, prioritize work, reduce complexity, and lower costs."

Starbucks expects to reduce headcount for its international operations too, the spokesperson said.

"We are streamlining our real estate footprint including consolidating US regional support office space and taking several other steps with leases and lease commitments,"according to the statement.

The new initiatives will cost $400 million, including $280 million in impairment charges, with the remaining $120 million attributable to employee separation benefits, Starbucks said in a regulatory filing.

Most restructuring actions will conclude by the end of this fiscal year, the company said.

Last year, Starbucks announced two rounds of layoffs. The first involved 1,100 corporate employees, along with a decision not to hire for several hundred open positions at the time. The other round, announced in September 2025, focused on about 900 non-retail jobs.

The company's stock was up 0.4% intraday Friday, and has gained 26% year-to-date.

Price: 107.48, Change: +1.08, Percent Change: +1.02