Is Starbucks Starting to Make Cuts?
In a letter to employees last week, Starbucks (NASDAQ: SBUX) acknowledged that some workers haven't been getting the hours they expected, and noted that they may not get them for a while. Although 85% of U.S. stores have reopened, they're operating under reduced hours, and Starbucks is encouraging workers to take unpaid leave.
Starbucks initially paid all of its workers through May 3, giving them the option to stay home and handing out bonuses to those who came in. As of May 4, the coffee chain began to reopen closed stores at reduced hours and with many conditions, restricting operations to to-go and drive-thru in most cases.
Starbucks expects full functionality to return by September, but even that is uncertain under current circumstances.
Source Fool.com
