Half Decalf Double Fail One Pump Latte

January 28th, 2009 by Jason · 6 Comments · fail, retail

failbucks

Among the many, many, many companies announcing layoffs this week – January alone is up to around 200,000 announced job losses, on top of December’s half a million – we find Starbucks, looking to slash 6,700 jobs and close 300 stores.  Of those, 2oo stores are in the US.  To put that another way, that would mean closing every single Starbucks in Manhattan, and still having to close a few more.

There really aren’t any great lulz to be found here, this is just another brand that’s been hit by the ripple effect of the recession, much like porn and prostitution.  Seems that with money getting tight, more attention is being paid to keeping the lights on and less on that teensy $2 brownie and $4 cup of what was once coffee:

The Seattle-based retailer said Wednesday that its net income fell to $64.3 million, or 9 cents per share, from $208.1 million, or 28 cents per share a year earlier.

For those of you who are not Rainman, that’s a drop of 69%.  For those of you unfamiliar with the percent system, that’s a lot.  And while the job losses are no picnic for those losing them, don’t cry for the company: the 300 stores it will be closing represent less than 2% of its total store count.  They’re gonna make it after all.

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