An analyst says as many as 1,000 Starbucks Corp. employees could be laid off within weeks, according to published reports.
The layoffs could include one-third of corporate employees, district managers and field employees, according to an e-mail sent Friday by Diane Daggatt, managing director at Seattle-based brokerage McAdams Wright Ragen. No barista jobs were expected to be cut, she said.
Starbucks (NASDAQ: SBUX) declined to comment on the report.
“We cannot, as a public company, comment on any details about our business in advance of our earnings release next week, and we do not comment on rumor and speculation,” Starbucks said in an e-mailed statement.
In December, officials of the Seattle-based coffee company said they planned more than $200 million in new cost-saving moves in fiscal 2009, in addition to $200 million in cost savings from steps already taken.
Starbucks’ profit for fiscal year 2008, which ended on Sept. 28, was down 53 percent to $315.5 million. Fourth-quarter fiscal 2008 profit fell 97 percent to $5.4 million.
Starbucks operates seven full-service locations in the Dayton area, plus several smaller kiosks.
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