US EditionStarbucks to give all North America salaried employees 2% raise this year, company says
The 2% raise for all salaried North American employees supports Starbucks' turnaround plan to improve service and operational efficiency after six quarters of sales declines.
- Starbucks will increase the salaries of all its salaried staff across North America by 2% this year, covering corporate personnel and store managers alike.
- This raise follows nearly a year of a turnaround effort led by CEO Brian Niccol to reverse declining sales and improve store service.
- Niccol's plan includes refreshing the menu, increasing store staffing, streamlining orders with technology, and cost controls through zero-based budgeting.
- Starbucks granted some executives $6 million stock grants tied to cost control and turnaround progress, while corporate bonuses last year were paid at 60%.
- The 2% salary increase ensures a uniform merit adjustment across all teams, supporting improvements aimed at enhancing customer experience, reducing delays, and creating a more welcoming store environment as part of the company’s recovery plan.
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Starbucks CEO Is Too Cheap
Starbucks Corp. (NASDAQ: SBUX) CEO Brian Niccol must want to undermine the morale among some of his most critical workers. The coffee store company will give salaried workers a pay raise of 2%. That is below the rise in the Consumer Price Index and, thus, an insult. 24/7 Wall St. Key Points: Starbucks Corp. (NASDAQ: SBUX) will give salaried workers only a tiny pay increase. Add that to the long list of mistakes made by CEO Brian Niccol. Take…
·New York, United States
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Starbucks Ditches Merit System, Gives 2% Raises To Corporate Staff After 6 Straight Quarters Of Sales Declines: Report - Starbucks (NASDAQ:SBUX), Chipotle Mexican Grill (NYSE:CMG)
Starbucks is providing all North American corporate employees with a 2% pay raise this year, abandoning its merit-based increase system.
·New York, United States
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Coverage Details
Total News Sources21
Leaning Left4Leaning Right1Center8Last UpdatedBias Distribution62% Center
Bias Distribution
- 62% of the sources are Center
62% Center
L 31%
C 62%
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