It makes perfect sense for a company that just suffered a gigantic drop in profit (and one that has been struggling all year) to give its new Chief Financial Officer, the one who will preside over the books during its downward spiral, a big fat paycheck. Troy Alstead, the incoming CFO for Starbucks Corporation, will be paid an annual salary of $450,000. But wait, there's more: he also receives eligibility for a $225,000 bonus and a stock option grant worth over $200,000. So, let's get this straight: the company is struggling for its life, facing continuously decreasing profit, and the head money man could get paid nearly $900,000 a year. Is it no wonder the numbers coming out of the Mermaid are so dismal? more ›

All is not well in the land of the mermaid. After weeks of whispered words like "bloodbath" around Starbucks headquarters and gossip sites, the coffee giant announced today just how large this round of lay-offs will be. Today's cuts will affect 1,000 employees, 180 of them located in Seattle at Starbucks HQ or the regional office. This comes hot on the heels of news that Starbucks will be closing 616 under-performing stores and that the 12,000 workers that run those stores will also be jobless. The way it's going, we have a feeling 2008 will be muttered about and cursed in Starbucks circles for decades to come. more ›

After announcing on July 1st plans to close 600 retail stores nationwide, the powers that be have released the locations of the first Starbucks stores that will close. None of the doomed stores are in Seattle or even Washington state. Heck, even Oregon and Idaho's Starbucks are safe for now. The closest Starbucks store facing closure thus far is in California, but there are hundreds more to come. So, breathe easy Seattle Starbucks baristas. Your jobs are safe, for now. more ›